KBC Group NV Increases Position in Adobe Inc. $ADBE

KBC Group NV increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 71.1% during the second quarter, Holdings Channel reports. The institutional investor owned 421,040 shares of the software company’s stock after acquiring an additional 174,925 shares during the period. KBC Group NV’s holdings in Adobe were worth $162,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares during the last quarter. Edgestream Partners L.P. grew its position in shares of Adobe by 147.3% in the first quarter. Edgestream Partners L.P. now owns 3,198 shares of the software company’s stock valued at $1,227,000 after purchasing an additional 1,905 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Adobe by 12.2% during the 1st quarter. Apollon Wealth Management LLC now owns 14,289 shares of the software company’s stock worth $5,480,000 after purchasing an additional 1,558 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in 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 valued at $498,000 after buying an additional 1,216,351 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its holdings in Adobe by 211.5% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 3,909 shares of the software company’s stock valued at $1,499,000 after buying an additional 2,654 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADBE shares. Evercore ISI cut their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. TD Cowen cut their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Finally, Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. One investment 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. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Trading Up 1.3%

Shares of ADBE stock opened at $333.22 on Wednesday. The firm’s 50-day simple moving average is $347.41 and its 200-day simple moving average is $367.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The firm has a market cap of $139.49 billion, a P/E ratio of 20.76, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm 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%. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current 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.