Merit Financial Group LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 72.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,182 shares of the software company's stock after buying an additional 11,880 shares during the period. Merit Financial Group LLC's holdings in Adobe were worth $10,903,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the first quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new position in Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the 1st quarter valued at $30,000. Finally, Garde Capital Inc. acquired a new stake in shares of Adobe during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.
Adobe Stock Down 1.3%
Shares of ADBE stock opened at $346.74 on Friday. The stock has a market cap of $145.15 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The stock has a fifty day moving average price of $353.22 and a 200 day moving average price of $372.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.
Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS 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 firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. 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. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts recently issued reports on ADBE shares. Mizuho lowered Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and dropped their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. Finally, Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $433.41.
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About Adobe
(
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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