3Chopt Investment Partners LLC Acquires 1,252 Shares of Adobe Inc. $ADBE

Key Points

• 3Chopt Investment Partners LLC increased its stake in Adobe Inc. by 96.8%, acquiring an additional 1,252 shares during the 2nd quarter, bringing its total holdings to 2,545 shares valued at approximately $985,000.
• Adobe Inc. reported earnings of $5.31 per share for the latest quarter, exceeding analyst expectations and demonstrating a 10.7% increase in revenue compared to the previous year.
• Brokerage ratings on Adobe show mixed sentiment, with one analyst rating it as a "Strong Buy" while several others have recently downgraded their target prices significantly, indicating cautious investor sentiment.

3Chopt Investment Partners LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 96.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,545 shares of the software company's stock after purchasing an additional 1,252 shares during the quarter. 3Chopt Investment Partners LLC's holdings in Adobe were worth $985,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADBE. Schmidt P J Investment Management Inc. increased its position in shares of Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. grew its stake in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co grew its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock worth $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its holdings in Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after buying an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. lifted its holdings in Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $347.47 on Friday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a 50 day simple moving average of $351.88 and a two-hundred day simple moving average of $371.24. The company has a market capitalization of $145.45 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.56 and a beta of 1.49. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The firm's quarterly revenue 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ADBE. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. BMO Capital Markets cut their target price on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Finally, Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, Adobe presently has an average rating of "Hold" and an average target price of $433.41.

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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.