Night Squared LP Takes $4.06 Million Position in Adobe Inc. $ADBE

Key Points

• Night Squared LP has acquired a new stake in Adobe Inc., purchasing 10,586 shares valued at approximately $4,060,000, representing 2.4% of its portfolio.
• Several other investors significantly increased their positions in Adobe during the first quarter, with GAMMA Investing LLC boosting its stake by 46,806.6% and Goldman Sachs increasing its stake by 68.3%.
• Adobe reported quarterly earnings of $5.06 EPS, exceeding estimates, with revenue reaching $5.87 billion, up 10.6% from the previous year.

Night Squared LP acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,586 shares of the software company's stock, valued at approximately $4,060,000. Adobe makes up about 2.4% of Night Squared LP's holdings, making the stock its 21st biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Harber Asset Management LLC purchased a new stake in Adobe during the first quarter valued at about $14,893,000. Ashford Capital Management Inc. increased its holdings in shares of Adobe by 23.4% in the 1st quarter. Ashford Capital Management Inc. now owns 3,856 shares of the software company's stock valued at $1,479,000 after purchasing an additional 732 shares during the period. Junto Capital Management LP increased its holdings in shares of Adobe by 4.9% in the 1st quarter. Junto Capital Management LP now owns 84,245 shares of the software company's stock valued at $32,310,000 after purchasing an additional 3,912 shares during the period. Activest Wealth Management increased its holdings in shares of Adobe by 96.8% in the 1st quarter. Activest Wealth Management now owns 185 shares of the software company's stock valued at $71,000 after purchasing an additional 91 shares during the period. Finally, Vident Advisory LLC increased its holdings in shares of Adobe by 22.2% in the 1st quarter. Vident Advisory LLC now owns 161,681 shares of the software company's stock valued at $62,010,000 after purchasing an additional 29,400 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADBE shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 target price (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and dropped their target price for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Stifel Nicolaus dropped their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Oppenheimer dropped their target price on Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Finally, UBS Group dropped their target price on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $459.52.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $1.39 during midday trading on Wednesday, reaching $347.02. 1,310,215 shares of the company traded hands, compared to its average volume of 3,740,001. The firm has a market cap of $147.20 billion, a PE ratio of 22.24, a PEG ratio of 1.69 and a beta of 1.48. The stock's 50-day simple moving average is $362.73 and its 200-day simple moving average is $384.96. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $4.48 earnings per share. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.