Lee Danner & Bass Inc. Purchases New Stake in Adobe Inc. $ADBE

Key Points

• Lee Danner & Bass Inc. recently acquired a stake in Adobe Inc., purchasing 1,808 shares valued at approximately $699,000.
• Adobe reported a quarterly earnings per share of $5.31, exceeding analysts' expectations of $5.18, with a revenue of $5.99 billion.
• Institutional investors and hedge funds collectively own 81.79% of Adobe's stock, highlighting strong institutional interest in the company.

Lee Danner & Bass Inc. acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,808 shares of the software company's stock, valued at approximately $699,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Adobe by 14.4% during the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Adobe by 2.4% during the first 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 last quarter. Amundi lifted its stake in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ:ADBE opened at $355.45 on Friday. The business's 50-day moving average price is $351.74 and its 200 day moving average price is $368.63. The firm has a market cap of $148.79 billion, a P/E ratio of 22.13, a PEG ratio of 1.59 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 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 earnings per share 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 analysts' expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $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. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research analyst reports. Barclays raised their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Mizuho cut Adobe from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, Oppenheimer cut their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $433.41.

Adobe Company Profile

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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