ARK Investment Management LLC Purchases 498 Shares of Adobe Inc. $ADBE

ARK Investment Management LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 57.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,360 shares of the software company’s stock after acquiring an additional 498 shares during the quarter. ARK Investment Management LLC’s holdings in Adobe were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ADBE. 1248 Management LLC bought a new position in Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the first quarter valued at about $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the first quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the first quarter valued at about $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe during the second quarter valued at about $31,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Evercore ISI reduced their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and dropped their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Barclays increased their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Finally, Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. One 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $354.09 on Thursday. The company has a market capitalization of $148.22 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.60 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day simple moving average of $351.63 and a two-hundred day simple moving average of $368.54. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly 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 company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last 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. Analysts expect that Adobe Inc. will post 16.65 EPS 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.