Meiji Yasuda Life Insurance Co Has $985,000 Stock Position in Adobe Inc. $ADBE

Key Points

• Meiji Yasuda Life Insurance Co reduced its stake in Adobe Inc. by 86.6% in Q1, holding 2,569 shares worth $985,000 after selling off a significant number of shares.
• Adobe's Q2 earnings report showed earnings per share (EPS) of $5.06, surpassing expectations, with revenue increasing 10.6% year-over-year to reach $5.87 billion.
• Analysts' ratings for Adobe vary widely, with the average target price at $448.22, and some research firms adjusting their ratings as low as a "strong sell" and as high as "strong buy."

Meiji Yasuda Life Insurance Co trimmed its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 86.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,569 shares of the software company's stock after selling 16,673 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Adobe were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Brighton Jones LLC grew its holdings in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after acquiring an additional 756 shares during the last quarter. CoreCap Advisors LLC increased its position in Adobe by 16.3% during the fourth quarter. CoreCap Advisors LLC now owns 414 shares of the software company's stock worth $184,000 after acquiring an additional 58 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Adobe by 0.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 461,902 shares of the software company's stock valued at $205,410,000 after purchasing an additional 3,213 shares during the last quarter. Finally, Minot DeBlois Advisors LLC bought a new stake in Adobe in the 4th quarter valued at $40,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE stock traded down $1.19 during trading on Friday, hitting $349.36. 14,118,114 shares of the stock traded hands, compared to its average volume of 3,814,649. The stock has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.66 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 company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $357.32 and a 200 day simple moving average of $379.80.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate 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 net margin of 30.01% and a return on equity of 56.30%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. Bank of America boosted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday. Piper Sandler reduced their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Two 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 stock. Based on data from MarketBeat.com, the company 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.