RNC Capital Management LLC Purchases 3,111 Shares of Adobe Inc. $ADBE

Key Points

• RNC Capital Management LLC increased its stake in Adobe Inc. by 18.8%, acquiring an additional 3,111 shares during the first quarter, bringing its total to 19,615 shares valued at approximately $7.52 million.
• Several institutional investors, including Goldman Sachs and Vanguard Group, have also raised their stakes in Adobe, reflecting strong institutional interest in the company with 81.79% of its stock currently owned by institutional investors.
• Adobe reported quarterly earnings of $5.06 EPS, exceeding analysts' estimates, and has set a guidance for Q3 2025 EPS at 5.150-5.200, while the consensus rating for the stock remains "Moderate Buy" with an average price target of $450.07.

RNC Capital Management LLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,615 shares of the software company's stock after acquiring an additional 3,111 shares during the period. RNC Capital Management LLC's holdings in Adobe were worth $7,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake 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 acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $2,504,685,000 after acquiring an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Adobe by 12.7% in the 4th 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 in the last quarter. Amundi lifted its position in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 1.4%

Shares of Adobe stock opened at $348.97 on Monday. The company has a current ratio of 0.99, a quick 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 firm has a market capitalization of $148.03 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.65 and a beta of 1.48. The firm's 50 day simple moving average is $360.40 and its two-hundred day simple moving average is $382.10.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results 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. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the business posted $4.48 EPS. Adobe'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. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADBE shares. Bank of America upped their price target on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Citigroup reduced their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average price target of $450.07.

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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