Adobe Inc. $ADBE Stock Position Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,686 shares of the software company’s stock after purchasing an additional 299 shares during the period. Maryland State Retirement & Pension System’s holdings in Adobe were worth $8,003,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 last quarter. Nuveen LLC acquired a new position in shares of Adobe in the 1st quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADBE shares. DA Davidson reiterated a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Citigroup decreased their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. BMO Capital Markets decreased their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Price Performance

NASDAQ ADBE opened at $348.77 on Thursday. The company has a 50 day simple moving average of $352.08 and a 200-day simple moving average of $371.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $146.00 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. 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 predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.