Public Employees Retirement System of Ohio Decreases Holdings in Adobe Inc. $ADBE

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Adobe Inc. by 3.8%, bringing its total shares to 182,158 valued at approximately $70.47 million.
• In the most recent quarter, Adobe reported $5.31 earnings per share, surpassing estimates, and indicated a revenue increase of 10.7% year-over-year.
• Analysts have mixed ratings for Adobe, with one strong buy, fifteen buys, eight holds, and three sells, resulting in a consensus target price of $435.63.

Public Employees Retirement System of Ohio lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,158 shares of the software company's stock after selling 7,157 shares during the period. Public Employees Retirement System of Ohio's holdings in Adobe were worth $70,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Schmidt P J Investment Management Inc. boosted its position in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. lifted its position in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co lifted its position in shares of Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock worth $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its position in shares of Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after purchasing an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. lifted its position in shares of Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Trading Down 0.6%

Shares of Adobe stock opened at $361.78 on Wednesday. The company has a market capitalization of $153.47 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.63 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm's 50-day moving average price is $355.77 and its two-hundred day moving average price is $375.30. 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 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. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company 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, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ADBE. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Stifel Nicolaus dropped their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research note on Wednesday, July 2nd. Piper Sandler dropped their price target on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a research note on Friday, September 12th. Finally, Oppenheimer dropped their price target on shares of 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, fifteen have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $435.63.

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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