Adobe Inc. $ADBE Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its holdings in Adobe Inc. by 8.3%, now owning approximately 0.66% of the company worth over $1 billion.
• Analysts have mixed ratings for Adobe with a consensus target price of $467.58, reflecting various adjustments from firms such as Citigroup, UBS Group, and DA Davidson.
• Adobe recently reported a quarterly earnings per share of $5.06, exceeding expectations and indicating a 10.6% revenue growth year-over-year.

Ameriprise Financial Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,814,425 shares of the software company's stock after buying an additional 215,287 shares during the quarter. Ameriprise Financial Inc. owned about 0.66% of Adobe worth $1,079,353,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Siemens Fonds Invest GmbH increased its stake in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter valued at approximately $26,000. SWAN Capital LLC purchased a new position in Adobe in the 4th quarter valued at approximately $28,000. Copia Wealth Management purchased a new position in Adobe in the 4th quarter valued at approximately $28,000. Finally, HHM Wealth Advisors LLC purchased a new position in Adobe in the 1st quarter valued at approximately $30,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup dropped their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. UBS Group raised their price target on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price target on shares of Adobe in a research report on Friday, June 13th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $467.58.

Adobe Trading Down 2.1%

Shares of ADBE opened at $353.43 on Thursday. The stock's 50-day moving average is $368.37 and its two-hundred day moving average is $391.09. The stock has a market cap of $149.93 billion, a PE ratio of 22.61, a P/E/G ratio of 1.71 and a beta of 1.51. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

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

About Adobe

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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