Abacus FCF Advisors LLC Has $18 Million Stock Holdings in Adobe Inc. $ADBE

Key Points

• Abacus FCF Advisors LLC increased its stake in Adobe Inc. by 7.7% during Q2, totaling 46,527 shares valued at about $18 million.
• Recent analyst ratings include a price target adjustment from $500 to $460 by Oppenheimer, with a consensus rating of "Moderate Buy" and an average target price of $435.63.
• Adobe's latest quarterly earnings report showed $5.31 EPS and revenue growth of 10.7% year-over-year, exceeding analyst expectations.

Abacus FCF Advisors LLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,527 shares of the software company's stock after acquiring an additional 3,320 shares during the quarter. Adobe comprises approximately 2.5% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 12th biggest position. Abacus FCF Advisors LLC's holdings in Adobe were worth $18,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Copia Wealth Management purchased a new stake in shares of Adobe in the 4th quarter valued at $28,000. SWAN Capital LLC acquired a new position in Adobe during the 4th quarter worth $28,000. 1248 Management LLC acquired a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the 1st quarter worth $26,000. Finally, Flaharty Asset Management LLC acquired a new position in Adobe during the 1st quarter worth $29,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 0.2%

Adobe stock traded down $0.87 during midday trading on Tuesday, hitting $363.21. The stock had a trading volume of 2,289,773 shares, compared to its average volume of 3,950,663. 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 stock has a market cap of $154.08 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.64 and a beta of 1.48. 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 $355.82 and a 200 day moving average price of $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADBE shares. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Evercore ISI reduced their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Wells Fargo & Company reissued an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $435.63.

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.