Signet Investment Advisory Group Inc. Increases Position in Adobe Inc. $ADBE

Signet Investment Advisory Group Inc. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,809 shares of the software company’s stock after buying an additional 376 shares during the quarter. Adobe comprises approximately 1.9% of Signet Investment Advisory Group Inc.’s investment portfolio, making the stock its 20th biggest holding. Signet Investment Advisory Group Inc.’s holdings in Adobe were worth $3,795,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. grew its holdings 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 valued at $1,202,979,000 after buying an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Adobe during the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of 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 valued at $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi grew its holdings in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Evercore ISI decreased their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Finally, DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Up 1.2%

Shares of Adobe stock opened at $357.80 on Tuesday. The firm has a 50-day simple moving average of $351.72 and a two-hundred day simple moving average of $368.91. The company has a market cap of $149.78 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. 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 (NASDAQ:ADBE) last issued its quarterly earnings data 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 business had revenue of $5.99 billion during 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 quarter in the prior year, the firm posted $4.65 earnings per share. 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, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.