Adobe Inc. $ADBE Shares Bought by DLK Investment Management LLC

DLK Investment Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 2.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,712 shares of the software company’s stock after acquiring an additional 324 shares during the quarter. DLK Investment Management LLC’s holdings in Adobe were worth $4,531,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new position in Adobe during the 1st quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in 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 valued at $498,000 after purchasing 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 period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 1.6%

Shares of ADBE stock opened at $352.73 on Wednesday. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $149.63 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.48. The stock has a 50 day moving average of $356.13 and a 200-day moving average of $378.15.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADBE shares. BMO Capital Markets lowered their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Barclays raised their price objective on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Robert W. Baird raised their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Finally, Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $435.63.

About Adobe

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.