Gemmer Asset Management LLC Acquires 128 Shares of Adobe Inc. $ADBE

Gemmer Asset Management LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,643 shares of the software company’s stock after buying an additional 128 shares during the quarter. Gemmer Asset Management LLC’s holdings in Adobe were worth $636,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of 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 last quarter. Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC acquired a new stake in Adobe during the first quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi grew its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ADBE shares. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. 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, Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Adobe stock opened at $346.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $145.15 billion, a P/E ratio of 21.60, a PEG ratio of 1.55 and a beta of 1.49. The stock’s 50 day moving average is $353.22 and its 200 day moving average is $372.26. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share 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.