Voya Investment Management LLC Increases Stake in Adobe Inc. $ADBE

Key Points

• Voya Investment Management LLC increased its stake in Adobe Inc. by 80.2%, acquiring an additional 109,641 shares, bringing its total ownership to approximately $94.5 million.
• In its recent quarterly earnings report, Adobe posted an EPS of $5.31, exceeding estimates, and reported a year-over-year revenue growth of 10.7%.
• Numerous analysts have adjusted their price targets for Adobe, with estimates ranging from $280 to $500, reflecting varied opinions on the stock's performance outlook.

Voya Investment Management LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 80.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 246,390 shares of the software company's stock after acquiring an additional 109,641 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Adobe worth $94,498,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADBE. GAMMA Investing LLC boosted its holdings in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after acquiring an additional 2,984,391 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC purchased a new stake in Adobe during the first quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.6%

Adobe stock traded down $2.26 during trading hours on Monday, reaching $347.10. The stock had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. The company has a market cap of $147.24 billion, a price-to-earnings ratio of 21.63, a PEG 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 50 day moving average price is $357.32 and its 200-day moving average price is $378.97. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday. UBS Group dropped their price target on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research report on Friday. Barclays upped their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

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.