Mutual of America Capital Management LLC Has $21.48 Million Position in Adobe Inc. $ADBE

Key Points

• Mutual of America Capital Management LLC reduced its stake in Adobe Inc. by 3.3% in Q2, now holding 55,515 shares valued at approximately $21.48 million.
• Adobe's stock saw a report of $5.31 EPS for the last quarter, surpassing the consensus estimate and marking a 10.7% year-over-year revenue increase.
• Analysts have mixed ratings on Adobe, with one Strong Buy, 13 Buy, 11 Hold, and three Sell ratings; the average price target is set at $433.41.

Mutual of America Capital Management LLC decreased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,515 shares of the software company's stock after selling 1,875 shares during the period. Mutual of America Capital Management LLC's holdings in Adobe were worth $21,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. 1248 Management LLC acquired a new stake in shares of Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the 1st quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the 1st quarter worth about $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $30,000. Finally, Nexus Investment Management ULC bought a new stake in shares of Adobe during the 2nd quarter valued at about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ADBE shares. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a research report on Wednesday, October 8th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. BMO Capital Markets decreased their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Finally, Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. 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 given a Sell rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $333.26 on Friday. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The company has a market cap of $139.50 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.49 and a beta of 1.49. The company's fifty day moving average price is $350.99 and its two-hundred day moving average price is $368.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. 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 expect that Adobe Inc. will post 16.65 EPS 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.

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