Torray Investment Partners LLC Has $6.45 Million Stock Position in Adobe Inc. $ADBE

Torray Investment Partners LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,670 shares of the software company’s stock after selling 837 shares during the period. Torray Investment Partners LLC’s holdings in Adobe were worth $6,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Ceera Investments LLC lifted its holdings in shares of Adobe by 14.9% in the second quarter. Ceera Investments LLC now owns 18,072 shares of the software company’s stock valued at $6,992,000 after purchasing an additional 2,346 shares in the last quarter. EPG Wealth Management LLC lifted its holdings in shares of Adobe by 6.3% in the second quarter. EPG Wealth Management LLC now owns 3,255 shares of the software company’s stock valued at $1,259,000 after purchasing an additional 192 shares in the last quarter. South Dakota Investment Council raised its holdings in Adobe by 33.9% during the second quarter. South Dakota Investment Council now owns 39,842 shares of the software company’s stock worth $15,414,000 after acquiring an additional 10,098 shares in the last quarter. iA Global Asset Management Inc. grew its position in shares of Adobe by 39.3% in the second quarter. iA Global Asset Management Inc. now owns 79,330 shares of the software company’s stock valued at $30,691,000 after purchasing an additional 22,372 shares during the last quarter. Finally, Meridian Management Co. acquired a new position in shares of Adobe in the second quarter valued at approximately $4,027,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.3%

Shares of NASDAQ:ADBE opened at $340.31 on Monday. The firm has a market cap of $142.45 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The business has a fifty day simple moving average of $350.67 and a 200 day simple moving average of $368.89.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company earned $4.65 EPS. Adobe’s revenue for the quarter 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. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Piper Sandler reduced their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Finally, TD Cowen reduced their price target on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.