Addenda Capital Inc. Buys 653 Shares of Adobe Inc. $ADBE

Addenda Capital Inc. lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.0% in the second quarter, HoldingsChannel.com reports. The fund owned 33,753 shares of the software company’s stock after purchasing an additional 653 shares during the period. Addenda Capital Inc.’s holdings in Adobe were worth $13,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Schmidt P J Investment Management Inc. raised its stake in shares of Adobe by 2.9% during 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 last quarter. GS Investments Inc. grew its holdings in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co grew its holdings in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after acquiring an additional 26 shares during the period. Lifeworks Advisors LLC grew its holdings in Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. grew its holdings in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 1.8%

Shares of NASDAQ ADBE opened at $360.37 on Friday. The stock’s 50 day simple moving average is $355.25 and its 200 day simple moving average is $373.63. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a market cap of $150.85 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its earnings results 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ADBE shares. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. UBS Group reduced their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $450.00 in a research report on Wednesday. Finally, Barclays increased their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.41.

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.