AustralianSuper Pty Ltd Makes New $38.31 Million Investment in Adobe Inc. $ADBE

AustralianSuper Pty Ltd purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 99,026 shares of the software company’s stock, valued at approximately $38,311,000.

Several other institutional investors have also made changes to their positions in the stock. Y Intercept Hong Kong Ltd boosted its holdings in shares of Adobe by 154.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 21,759 shares of the software company’s stock worth $8,418,000 after purchasing an additional 13,198 shares during the period. GoalVest Advisory LLC boosted its holdings in shares of Adobe by 37.3% during the second quarter. GoalVest Advisory LLC now owns 276 shares of the software company’s stock worth $107,000 after purchasing an additional 75 shares during the period. Solstein Capital LLC boosted its holdings in shares of Adobe by 34.2% during the second quarter. Solstein Capital LLC now owns 357 shares of the software company’s stock worth $138,000 after purchasing an additional 91 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Adobe by 4.0% during the second quarter. Chilton Capital Management LLC now owns 6,335 shares of the software company’s stock worth $2,451,000 after purchasing an additional 246 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Adobe by 80.2% during the second quarter. Resonant Capital Advisors LLC now owns 8,030 shares of the software company’s stock worth $3,107,000 after purchasing an additional 3,574 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on ADBE shares. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Sunday. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. UBS Group decreased their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Barclays raised their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Piper Sandler cut 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 research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Price Performance

Shares of ADBE opened at $353.52 on Monday. The firm has a market cap of $147.98 billion, a PE ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49. The firm’s 50 day moving average price is $351.71 and its 200 day moving average price is $368.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The company’s quarterly revenue 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. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.