Renaissance Group LLC Has $30.09 Million Stock Position in Adobe Inc. $ADBE

Renaissance Group LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,764 shares of the software company’s stock after buying an additional 6,488 shares during the quarter. Renaissance Group LLC’s holdings in Adobe were worth $30,085,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. increased its stake in shares of Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. boosted its stake in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co grew its holdings in Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC increased its position in Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after buying an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its position in Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after buying an additional 27 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $324.47 on Wednesday. The firm has a market capitalization of $135.82 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. 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 12-month low of $320.80 and a 12-month high of $557.90. The firm has a 50-day moving average price of $345.35 and a 200 day moving average price of $366.32.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The company 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%.The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.