Empowered Funds LLC Boosts Position in Adobe Inc. $ADBE

Empowered Funds LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,270 shares of the software company’s stock after buying an additional 2,615 shares during the quarter. Empowered Funds LLC’s holdings in Adobe were worth $8,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in Adobe during the first quarter valued at $25,000. LSV Asset Management grew its position in Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the period. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $30,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Adobe in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Trading Down 2.0%

Shares of NASDAQ:ADBE opened at $318.11 on Thursday. The business’s 50 day moving average price is $344.71 and its 200-day moving average price is $365.98. Adobe Inc. has a 1 year low of $315.17 and a 1 year high of $557.90. The firm has a market capitalization of $133.16 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. 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 (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 company 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 quarter in the previous year, the firm earned $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. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADBE. Barclays set a $465.00 target price on Adobe and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. 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 report on Friday, September 12th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe 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.