Investment Management Corp of Ontario Purchases 11,079 Shares of Adobe Inc. $ADBE

Investment Management Corp of Ontario lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,560 shares of the software company’s stock after buying an additional 11,079 shares during the quarter. Adobe makes up about 0.4% of Investment Management Corp of Ontario’s holdings, making the stock its 29th biggest holding. Investment Management Corp of Ontario’s holdings in Adobe were worth $27,685,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Adobe in the second quarter worth about $2,029,950,000. Assenagon Asset Management S.A. boosted its position in shares of Adobe by 308.1% in the 2nd 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 in the last quarter. Amundi grew its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Adobe by 116.9% in the 1st quarter. AQR Capital Management LLC now owns 1,632,789 shares of the software company’s stock worth $616,345,000 after buying an additional 880,134 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in Adobe during the 2nd quarter valued at approximately $318,224,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADBE shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. UBS Group cut their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Evercore ISI reduced their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note 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 on the stock in a research note on Friday, September 12th. Finally, Oppenheimer cut their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $424.74.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Adobe Stock Down 2.1%

Adobe stock opened at $339.12 on Tuesday. Adobe Inc. has a one year low of $311.58 and a one year high of $557.90. The stock has a fifty day moving average of $336.08 and a 200 day moving average of $358.83. 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 stock has a market cap of $141.96 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $4.65 EPS. The business’s quarterly 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 and its Q4 2025 guidance at 5.350-5.400 EPS. As a group, sell-side analysts predict 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.