Condor Capital Management Purchases 4,130 Shares of Adobe Inc. $ADBE

Condor Capital Management grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 135.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,172 shares of the software company’s stock after buying an additional 4,130 shares during the quarter. Condor Capital Management’s holdings in Adobe were worth $2,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new stake in shares of Adobe during the 1st quarter valued at $607,443,000. Amundi raised its stake in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, AQR Capital Management LLC boosted its holdings 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. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada decreased their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research note on Wednesday, October 29th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $433.41.

Insiders Place Their Bets

In other 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 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 filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Adobe Trading Down 0.7%

NASDAQ:ADBE opened at $331.11 on Friday. Adobe Inc. has a 1 year low of $323.03 and a 1 year high of $557.90. The stock’s fifty day moving average price is $346.61 and its two-hundred day moving average price is $367.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $138.60 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm’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. Q4 2025 guidance at 5.350-5.400 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.