Adobe Inc. $ADBE Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,454 shares of the software company’s stock after purchasing an additional 3,163 shares during the quarter. Adobe comprises approximately 0.6% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 29th biggest position. Sumitomo Life Insurance Co.’s holdings in Adobe were worth $9,461,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADBE. Assenagon Asset Management S.A. raised its stake in shares of Adobe by 308.1% during the second 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. raised its stake in shares of Adobe by 68.3% during the first 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 purchased a new position in Adobe in the first quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after acquiring an additional 1,216,351 shares in the last quarter. Finally, Amundi raised its position in 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 acquiring an additional 961,895 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.3%

Adobe stock opened at $340.31 on Friday. The stock has a market cap of $142.45 billion, a PE ratio of 21.20, a P/E/G ratio of 1.51 and a beta of 1.49. The stock has a 50-day moving average price of $350.67 and a 200 day moving average price of $368.72. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a research report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average target price of $433.41.

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.