Balefire LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 926 shares of the software company's stock, valued at approximately $358,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after acquiring an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Amundi lifted its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Institutional investors own 81.79% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. 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 decreased their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.63.
Check Out Our Latest Analysis on ADBE
Adobe Stock Down 0.4%
Shares of ADBE traded down $1.56 during trading hours on Friday, reaching $365.90. The stock had a trading volume of 7,675,797 shares, compared to its average volume of 4,978,333. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a 50-day simple moving average of $355.88 and a 200 day simple moving average of $376.47. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $155.21 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.64 and a beta of 1.48.
Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.91 billion. During the same period last year, the business earned $4.65 EPS. Adobe'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. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
Adobe Profile
(
Free Report)
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.
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