QRG Capital Management Inc. Boosts Stock Holdings in Adobe Inc. $ADBE

Key Points

• QRG Capital Management Inc. increased its stake in Adobe Inc. by 2.1% during Q2, now holding 73,392 shares valued at approximately $28.39 million.
• Adobe recently reported earnings of $5.31 per share, exceeding estimates, with quarterly revenue hitting $5.99 billion, up 10.7% year-over-year.
• Investor sentiment varies, with analysts issuing mixed ratings, including price target reductions from some firms, while others maintain a "buy" rating for the stock.

QRG Capital Management Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,392 shares of the software company's stock after purchasing an additional 1,509 shares during the quarter. QRG Capital Management Inc.'s holdings in Adobe were worth $28,394,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Adobe by 2.4% during the 1st 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 valued at $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Amundi increased its holdings in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 1.3%

Shares of ADBE stock opened at $346.74 on Friday. The company's 50-day moving average price is $353.22 and its 200-day moving average price is $372.37. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 57.54%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company 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, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADBE. BMO Capital Markets dropped their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. 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. Rothschild & Co Redburn cut 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. Finally, Morgan Stanley cut shares of Adobe from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $433.41.

Adobe 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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