Nordea Investment Management AB Purchases 92,044 Shares of Adobe Inc. $ADBE

Nordea Investment Management AB lifted its position in Adobe Inc. (NASDAQ:ADBE) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,805,683 shares of the software company’s stock after acquiring an additional 92,044 shares during the period. Nordea Investment Management AB’s holdings in Adobe were worth $702,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe in the first quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the first quarter valued at $30,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Adobe in the second quarter valued at $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 0.4%

ADBE opened at $329.23 on Friday. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a 50-day simple moving average of $351.14 and a 200 day simple moving average of $369.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $137.82 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.48 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

Several research firms have commented on ADBE. Evercore ISI decreased their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Citigroup decreased their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. 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 research report on Monday, August 11th. Finally, Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.