Joho Capital LLC Boosts Stock Position in Adobe Inc. $ADBE

Key Points

• Joho Capital LLC increased its stake in Adobe Inc. by 15.5%, now holding 219,400 shares, which makes up approximately 14.5% of its total holdings.
• Adobe recently reported earnings of $5.06 per share, surpassing analysts' expectations, with a revenue of $5.87 billion for the quarter.
• Analysts have varied price targets for Adobe's stock; Oppenheimer has lowered their target from $530 to $500, while Wells Fargo has increased theirs from $430 to $470, reflecting a generally favorable outlook.

Joho Capital LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,400 shares of the software company's stock after acquiring an additional 29,500 shares during the quarter. Adobe makes up about 14.5% of Joho Capital LLC's holdings, making the stock its 3rd largest position. Joho Capital LLC owned about 0.05% of Adobe worth $84,146,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Copia Wealth Management bought a new stake in Adobe during the fourth quarter worth $28,000. SWAN Capital LLC bought a new stake in Adobe during the fourth quarter worth $28,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe during the first quarter worth $26,000. HHM Wealth Advisors LLC bought a new stake in Adobe during the first quarter worth $30,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe during the fourth quarter worth $36,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of ADBE opened at $356.35 on Thursday. The firm has a market cap of $151.16 billion, a PE ratio of 22.80, a PEG ratio of 1.68 and a beta of 1.51. The stock's fifty day moving average price is $364.81 and its two-hundred day moving average price is $388.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the company posted $4.48 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. Oppenheimer dropped their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Citigroup dropped their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Finally, Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $467.58.

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.

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