L2 Asset Management LLC Makes New Investment in Adobe Inc. $ADBE

L2 Asset Management LLC bought a new position in Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,420 shares of the software company’s stock, valued at approximately $906,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Adobe during the second quarter worth about $8,437,821,000. Norges Bank acquired a new stake in Adobe in the fourth quarter valued at about $2,275,165,000. Bank of New York Mellon Corp acquired a new stake in Adobe in the second quarter valued at about $954,468,000. Deutsche Bank AG purchased a new stake in Adobe in the 2nd quarter valued at approximately $750,203,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Adobe in the 2nd quarter valued at approximately $211,248,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.4%

Shares of Adobe stock opened at $276.27 on Tuesday. The company has a 50-day moving average of $234.01 and a two-hundred day moving average of $244.68. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $370.86. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a market cap of $109.82 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping the consensus estimate of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.During the same quarter in the previous year, the company earned $5.06 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, research analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares in the company, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADBE. Royal Bank Of Canada cut their target price on Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. Citigroup restated a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. DA Davidson dropped their price objective on Adobe from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, June 12th. Wells Fargo & Company dropped their price objective on Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Finally, BMO Capital Markets reduced their target price on Adobe from $285.00 to $230.00 and set a “market perform” rating for the company in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $270.96.

Adobe Company Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.