Adobe Inc. $ADBE Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has increased its stake in Adobe Inc. (NASDAQ:ADBE) by 76.2%, owning approximately $727 million worth of shares after buying an additional 819,697 shares.
• Analysts have mixed opinions on Adobe's stock, with a range of ratings including two "Strong Buy," fifteen "Buy," and three "Sell," alongside an average target price of $467.58.
• Adobe reported strong quarterly earnings of $5.06 per share, exceeding expectations, with revenue of $5.87 billion, reflecting a year-over-year increase of 10.6%.

The Manufacturers Life Insurance Company lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 76.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,895,642 shares of the software company's stock after buying an additional 819,697 shares during the period. Adobe makes up approximately 0.7% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 21st biggest holding. The Manufacturers Life Insurance Company owned 0.44% of Adobe worth $727,038,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADBE. Brighton Jones LLC lifted its position in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Adobe by 2.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after acquiring an additional 756 shares during the last quarter. Voleon Capital Management LP acquired a new stake in Adobe in the 4th quarter valued at about $213,000. Rehmann Capital Advisory Group grew its stake in shares of Adobe by 4.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 4,109 shares of the software company's stock valued at $1,827,000 after buying an additional 157 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of Adobe in the 4th quarter valued at approximately $45,866,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

ADBE traded up $2.74 on Friday, reaching $356.70. The company had a trading volume of 2,637,158 shares, compared to its average volume of 3,666,279. 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 1 year low of $330.04 and a 1 year high of $587.75. The stock has a market capitalization of $151.31 billion, a PE ratio of 22.82, a P/E/G ratio of 1.69 and a beta of 1.51. The stock has a 50-day moving average price of $363.93 and a 200-day moving average price of $386.47.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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 net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm posted $4.48 earnings per share. Adobe's revenue for the quarter was up 10.6% on a year-over-year basis. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on ADBE shares. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and decreased their target price for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Stifel Nicolaus decreased their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Citigroup decreased their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Two research 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 given a Sell rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $466.42.

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.