California Public Employees Retirement System Raises Stock Holdings in Adobe Inc. $ADBE

California Public Employees Retirement System boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 738,477 shares of the software company’s stock after buying an additional 30,847 shares during the quarter. California Public Employees Retirement System owned 0.17% of Adobe worth $285,702,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. 1248 Management LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $25,000. LSV Asset Management boosted its position in shares of Adobe by 350.0% during the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after buying an additional 56 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the first quarter valued at $29,000. Nexus Investment Management ULC purchased a new stake in shares of Adobe in the 2nd quarter valued at $31,000. Finally, Horizon Financial Services LLC lifted its stake in Adobe by 4,000.0% during the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company reduced their target price on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. Piper Sandler dropped their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Finally, Evercore ISI cut their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $425.85.

Adobe Price Performance

Shares of ADBE opened at $346.26 on Friday. The firm has a market capitalization of $144.94 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.27 and a beta of 1.54. The firm’s fifty day simple moving average is $336.48 and its 200-day simple moving average is $359.74. Adobe Inc. has a twelve month low of $311.58 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.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast 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.