Quarry LP Takes $459,000 Position in Adobe Inc. $ADBE

Key Points

• Quarry LP has acquired a new position in Adobe Inc., buying 1,196 shares valued at approximately $459,000 during the first quarter.
• The stock has a consensus rating of "Moderate Buy" with a target price averaging $466.42, as analysts hold a mixture of ratings from Strong Buy to Sell.
• Adobe reported a 10.6% year-over-year revenue increase in its latest quarterly earnings, with earnings per share of $5.06 surpassing estimates by $0.09.

Quarry LP bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,196 shares of the software company's stock, valued at approximately $459,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Adobe by 14.4% in 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 buying an additional 821,293 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Adobe by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after acquiring an additional 600,146 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Adobe by 68.3% in 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 during the period. Finally, Deutsche Bank AG boosted its holdings in Adobe by 6.8% in the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company's stock valued at $1,432,680,000 after purchasing an additional 238,542 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 brokerages have commented on ADBE. Bank of America raised their price objective on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Finally, Evercore ISI restated an "outperform" rating and set a $475.00 target price on shares of Adobe in a research report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $459.52.

Adobe Price Performance

ADBE traded down $4.19 during trading on Thursday, hitting $344.31. The company's stock had a trading volume of 4,914,154 shares, compared to its average volume of 3,757,559. The firm's 50 day moving average price is $361.95 and its two-hundred day moving average price is $384.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The stock has a market capitalization of $146.06 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.48.

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 the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $4.48 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Sell-side analysts forecast 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.