Kingstone Capital Partners Texas LLC Makes New $318.22 Million Investment in Adobe Inc. $ADBE

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Adobe Inc., purchasing approximately 822,540 shares valued around $318 million, representing about 0.19% of the company.
• Adobe recently reported quarterly earnings of $5.31 per share, surpassing analyst estimates and indicating a 10.7% year-over-year revenue growth to $5.99 billion.
• Currently, the stock has a consensus rating of "Moderate Buy" with an average target price of $435.63, influenced by various analysts' upgrades and downgrades.

Kingstone Capital Partners Texas LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 822,540 shares of the software company's stock, valued at approximately $318,224,000. Kingstone Capital Partners Texas LLC owned 0.19% of Adobe at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after acquiring an additional 171,547 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after purchasing an additional 126,688 shares during the period. Amundi lifted its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on ADBE. Stifel Nicolaus lowered their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Mizuho reduced their price objective on Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Finally, Bank of America raised their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Performance

Shares of Adobe stock traded down $2.71 during trading hours on Monday, reaching $363.19. The company had a trading volume of 2,077,962 shares, compared to its average volume of 3,945,338. The firm has a market cap of $154.07 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The business has a fifty day simple moving average of $355.88 and a 200 day simple moving average of $375.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99.

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

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.