Cerity Partners LLC Purchases 26,499 Shares of Adobe Inc. $ADBE

Cerity Partners LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 289,171 shares of the software company’s stock after purchasing an additional 26,499 shares during the period. Cerity Partners LLC’s holdings in Adobe were worth $111,875,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Adobe during the 2nd quarter valued at about $2,029,950,000. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Nuveen LLC purchased a new position in Adobe during the first quarter valued at approximately $607,443,000. Amundi increased its holdings in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, AQR Capital Management LLC raised its stake in Adobe by 116.9% in the first quarter. AQR Capital Management LLC now owns 1,632,789 shares of the software company’s stock worth $616,345,000 after buying an additional 880,134 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $346.26 on Friday. The company has a 50 day moving average price of $336.48 and a 200 day moving average price of $359.74. The firm has a market capitalization of $144.94 billion, a P/E ratio of 21.57, a PEG ratio of 1.27 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. 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 business posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. Mizuho cut their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Evercore ISI reduced their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Cowen restated a “hold” rating on shares of Adobe in a report on Wednesday, October 29th. TD Cowen reduced their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $425.85.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was 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 $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

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.