97,393 Shares in Adobe Inc. $ADBE Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a significant stake in Adobe Inc., purchasing 97,393 shares valued at approximately $37.35 million in the first quarter.
• Adobe's earnings report indicated an EPS of $5.06, surpassing estimates, with a year-over-year revenue increase of 10.6% to $5.87 billion.
• Institutional ownership of Adobe is substantial, with 81.79% of shares held by institutional investors, reflecting strong interest from hedge funds and asset management firms.

Strs Ohio acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 97,393 shares of the software company's stock, valued at approximately $37,353,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the period. 1248 Management LLC bought a new position in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth $26,000. SWAN Capital LLC bought a new position in Adobe in the fourth quarter worth $28,000. Finally, Copia Wealth Management bought a new position in Adobe in the fourth quarter worth $28,000. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ADBE. Robert W. Baird raised their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday. Finally, Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $2.26 during midday trading on Monday, reaching $347.10. The company's stock had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a market capitalization of $147.24 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The business's fifty day simple moving average is $357.32 and its 200-day simple moving average is $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company posted $4.65 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. 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 research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.