Element Capital Management LLC Buys New Position in Adobe Inc. $ADBE

Key Points

• Element Capital Management LLC purchased 6,856 shares of Adobe Inc. valued at approximately $2.6 million during the first quarter.
• Analysts have mixed views on Adobe's stock; while BMO Capital Markets maintains an "outperform" rating with a $450 price target, Rothschild & Co lowered their rating to "sell" with a target of $280.
• Adobe recently reported earnings of $5.06 per share, exceeding estimates, with a revenue increase of 10.6% compared to the previous year.

Element Capital Management LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,856 shares of the software company's stock, valued at approximately $2,629,000.

A number of other hedge funds also recently bought and sold shares of ADBE. Copia Wealth Management bought a new stake in Adobe in the fourth quarter valued at approximately $28,000. SWAN Capital LLC bought a new stake in Adobe in the fourth quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter valued at approximately $30,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe in the fourth quarter valued at approximately $36,000. Institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. UBS Group increased their target price on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Citigroup lowered their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Finally, Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Price Performance

NASDAQ:ADBE traded up $3.5420 during trading hours on Tuesday, reaching $360.7820. The stock had a trading volume of 1,900,108 shares, compared to its average volume of 3,782,354. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $587.75. The company has a 50 day moving average price of $370.66 and a two-hundred day moving average price of $391.57. The stock has a market capitalization of $153.04 billion, a PE ratio of 23.07, a PEG ratio of 1.68 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.