5,175 Shares in Adobe Inc. $ADBE Purchased by Legacy Wealth Management LLC MS

Key Points

• Legacy Wealth Management LLC acquired 5,175 shares of Adobe Inc., valued at approximately $2,002,000, during Q2, indicating growing institutional interest in the company.
• Adobe reported $5.31 earnings per share for its last quarter, exceeding analysts' estimates and reflecting a year-over-year revenue growth of 10.7%.
• Analyst ratings on Adobe are mixed, with two ratings of Strong Buy and several downgrades leading to a current average price target of $435.63.

Legacy Wealth Management LLC MS purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,175 shares of the software company's stock, valued at approximately $2,002,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares during the period. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the first quarter valued at approximately $26,000. SWAN Capital LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. Finally, Copia Wealth Management purchased a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Evercore ISI decreased their price target on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research note on Friday. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Finally, TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Performance

Shares of ADBE traded down $2.26 during trading hours on Monday, reaching $347.10. 6,760,024 shares of the company traded hands, compared to its average volume of 3,900,378. The stock has a market capitalization of $147.24 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.65 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The business has a fifty day moving average price of $357.32 and a 200-day moving average price of $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS 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.