OLD National Bancorp IN Raises Stock Position in Adobe Inc. $ADBE

OLD National Bancorp IN boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,954 shares of the software company’s stock after acquiring an additional 525 shares during the period. OLD National Bancorp IN’s holdings in Adobe were worth $17,005,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Schmidt P J Investment Management Inc. lifted its position in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. lifted its position in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co lifted its position in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its position in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. lifted its position in Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADBE. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Saturday, September 27th. Citigroup lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Bank of America boosted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 1.3%

NASDAQ:ADBE opened at $346.74 on Friday. The firm’s 50-day moving average price is $353.22 and its 200-day moving average price is $372.26. The company has a market capitalization of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. 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 $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior 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 analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.