Jacobi Capital Management LLC Acquires 1,286 Shares of Adobe Inc. $ADBE

Key Points

• Jacobi Capital Management LLC increased its holdings in Adobe Inc. by 27.0%, owning a total of 6,045 shares worth approximately $2.3 million.
• Several other large investors have also adjusted their positions in Adobe, with 81.79% of the stock currently held by institutional investors.
• Adobe's recent earnings report showed an EPS of $5.06, beating estimates and reflecting a 10.6% year-over-year revenue growth.

Jacobi Capital Management LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 27.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,045 shares of the software company's stock after buying an additional 1,286 shares during the quarter. Jacobi Capital Management LLC's holdings in Adobe were worth $2,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Advisors Capital Management LLC lifted its stake in shares of Adobe by 1.9% during the 1st quarter. Advisors Capital Management LLC now owns 36,939 shares of the software company's stock valued at $14,168,000 after buying an additional 683 shares in the last quarter. Siren L.L.C. increased its holdings in Adobe by 119.3% during the 1st quarter. Siren L.L.C. now owns 19,298 shares of the software company's stock worth $7,401,000 after acquiring an additional 10,500 shares during the period. McAdam LLC increased its holdings in Adobe by 9.2% during the 1st quarter. McAdam LLC now owns 618 shares of the software company's stock worth $237,000 after acquiring an additional 52 shares during the period. Acadian Asset Management LLC increased its holdings in Adobe by 101.5% during the 1st quarter. Acadian Asset Management LLC now owns 337,217 shares of the software company's stock worth $129,314,000 after acquiring an additional 169,862 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Adobe by 9.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 13,770 shares of the software company's stock worth $5,281,000 after acquiring an additional 1,234 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $2.26 during trading on Monday, reaching $347.10. The company had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. The company has a fifty day moving average of $357.32 and a two-hundred day moving average of $378.97. The stock has a market capitalization of $147.24 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Robert W. Baird upped their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Barclays upped their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $435.63.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.