KLP Kapitalforvaltning AS Raises Stock Position in Adobe Inc. $ADBE

Key Points

• KLP Kapitalforvaltning AS increased its stake in Adobe Inc. by 8.5% during the 2nd quarter, holding a total of 201,763 shares valued at approximately $78 million.
• Adobe reported better-than-expected quarterly earnings with an EPS of $5.31, surpassing estimates, and announced future guidance for FY 2025 EPS in the range of $20.800-20.850.
• Several analysts have recently adjusted their ratings and price targets for Adobe, with Morgan Stanley downgrading it to "equal weight" while others, like Bank of America, raised their price target and maintained a "buy" rating.

KLP Kapitalforvaltning AS lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,763 shares of the software company's stock after buying an additional 15,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Adobe were worth $78,058,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Garde Capital Inc. acquired a new stake in Adobe in the first quarter valued at $34,000. PFG Advisors lifted its holdings in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after acquiring an additional 855 shares during the period. Krane Funds Advisors LLC raised its stake in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after buying an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Adobe during the 1st quarter worth $305,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 1.0%

ADBE opened at $350.14 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $146.57 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The business has a 50-day moving average of $352.83 and a two-hundred day moving average of $371.88. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business 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. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley downgraded Adobe from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Barclays lifted their price target on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Piper Sandler cut their price target on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. Finally, Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $433.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.