L2 Asset Management LLC Invests $906,000 in Adobe Inc. $ADBE

L2 Asset Management LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,420 shares of the software company’s stock, valued at approximately $906,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Brighton Jones LLC raised its holdings in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Adobe by 25.5% during the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock valued at $926,000 after acquiring an additional 486 shares during the last quarter. United Bank boosted its stake in shares of Adobe by 12.8% during the second quarter. United Bank now owns 3,773 shares of the software company’s stock valued at $1,460,000 after acquiring an additional 428 shares during the last quarter. Schnieders Capital Management LLC. increased its position in Adobe by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after purchasing an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Adobe by 190.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock worth $1,069,000 after purchasing an additional 1,813 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADBE shares. Weiss Ratings downgraded Adobe from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Royal Bank Of Canada cut their target price on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. BMO Capital Markets reduced their price target on Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, June 12th. Mizuho cut their price objective on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Finally, Phillip Securities lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of “Hold” and an average target price of $270.96.

Insider Buying and Selling

In related 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 transaction of $109,961.28. Following the transaction, the chief accounting officer directly 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 document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks bought 10,000 shares of the stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.20% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $276.27 on Tuesday. The stock has a market capitalization of $109.82 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.93 and a beta of 1.40. Adobe Inc. has a one year low of $190.12 and a one year high of $370.86. The company’s 50-day simple moving average is $234.01 and its 200-day simple moving average is $244.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the company earned $5.06 earnings per share. Adobe’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. Equities analysts anticipate that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

About Adobe

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.