VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Adobe Inc. $ADBE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 153,714 shares of the software company’s stock, valued at approximately $59,469,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Garde Capital Inc. acquired a new position in shares of Adobe during the first quarter worth $34,000. PFG Advisors boosted its position in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of Adobe during the first quarter worth about $305,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 1.2%

Shares of NASDAQ:ADBE opened at $333.26 on Friday. The company’s fifty day moving average is $350.99 and its two-hundred day moving average is $368.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The stock has a market capitalization of $139.50 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The business 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 company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous 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 analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup reduced their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research report on Monday, August 11th. Barclays raised their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Royal Bank Of Canada cut their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. One investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.