Adobe Inc. $ADBE Shares Purchased by Covea Finance

Covea Finance boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,879 shares of the software company’s stock after buying an additional 2,500 shares during the quarter. Adobe accounts for 1.1% of Covea Finance’s investment portfolio, making the stock its 29th largest position. Covea Finance’s holdings in Adobe were worth $31,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Norges Bank acquired a new stake in Adobe in the 2nd quarter valued at about $2,029,950,000. Amundi raised its position in Adobe by 24.7% in 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 in the last quarter. Invesco Ltd. boosted its stake in shares of Adobe by 16.1% in the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock valued at $1,705,043,000 after buying an additional 610,215 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Adobe by 17.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock worth $1,417,587,000 after buying an additional 548,903 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADBE. BMO Capital Markets reduced their target price on shares of Adobe from $405.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. TD Cowen dropped their price objective on shares of Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. UBS Group set a $487.00 price objective on shares of Adobe in a report on Sunday, December 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adobe in a research note on Wednesday, December 17th. Finally, Mizuho dropped their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $417.93.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Trading Up 0.2%

NASDAQ ADBE opened at $353.03 on Friday. The firm’s fifty day moving average price is $338.35 and its 200 day moving average price is $354.16. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $465.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.02. The company has a market capitalization of $147.78 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The company had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.11 billion. During the same quarter in the prior year, the firm posted $4.81 earnings per share. Adobe’s revenue for the quarter was up 10.5% on a year-over-year basis. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.