VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 153,714 Adobe Inc. $ADBE

Key Points

• Virginia Retirement Systems acquired 153,714 shares of Adobe Inc. valued at approximately $59.47 million, as reported in their recent Form 13F filing.
• Adobe's stock showed strong performance with a 12-month revenue increase of 10.7% and reported EPS of $5.31, surpassing analyst expectations.
• Analysts have varying price targets for Adobe shares, with a consensus rating of "Hold" and an average target price of $433.41.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 153,714 shares of the software company's stock, valued at approximately $59,469,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new position in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the 1st quarter worth about $30,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Adobe during the second quarter worth about $31,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of Adobe stock opened at $333.26 on Friday. The business's fifty day moving average price is $350.99 and its 200 day moving average price is $368.75. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. 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 capitalization of $139.50 billion, a P/E ratio of 20.76, a PEG ratio of 1.49 and a beta of 1.49.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on ADBE shares. DA Davidson reissued a "buy" rating and set a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. BMO Capital Markets reduced their price target on Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Adobe in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of "Hold" and an average target price of $433.41.

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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