Woodline Partners LP Acquires 10,914 Shares of Adobe Inc. $ADBE

Key Points

• Woodline Partners LP increased its stake in Adobe Inc. by 40.2%, acquiring an additional 10,914 shares, bringing their total to 38,056 shares valued at approximately $14.6 million.
• Several large investors are modifying their holdings, including GAMMA Investing LLC, which increased its stake by an astonishing 46,806.6%, now owning nearly 3 million shares worth over $1 billion.
• Wall Street analysts have mixed ratings on Adobe, with an average rating of "Moderate Buy" and a price target of $446.74, reflecting varying confidence in the company's future performance.

Woodline Partners LP grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,056 shares of the software company's stock after purchasing an additional 10,914 shares during the quarter. Woodline Partners LP's holdings in Adobe were worth $14,596,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Adobe by 46,806.6% in 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 buying an additional 2,984,391 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $1,754,954,000 after acquiring an additional 1,856,544 shares during the period. Nuveen LLC acquired a new stake in shares of Adobe in the first quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in Adobe by 1,482.7% during the first 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 period. Finally, Amundi raised its stake in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. DA Davidson restated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research report on Friday. Royal Bank Of Canada decreased their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a report on Monday, August 11th. TD Cowen decreased their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday. Finally, Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $435.63.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $1.19 during midday trading on Friday, reaching $349.36. 14,118,114 shares of the company traded hands, compared to its average volume of 3,814,649. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock's 50-day simple moving average is $357.32 and its 200-day simple moving average is $379.80. The firm has a market cap of $148.20 billion, a PE ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The business had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter last year, the company posted $4.65 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. 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 analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.