Adobe Inc. $ADBE Shares Acquired by Radnor Capital Management LLC

Key Points

• Radnor Capital Management LLC increased its holdings in Adobe Inc. by 36.0% during the second quarter, now owning 6,427 shares valued at $2,486,000.
• Adobe's quarterly earnings surpassed expectations, reporting $5.31 EPS against estimates of $5.18, with revenues up 10.7% from the previous year to $5.99 billion.
• Several brokerages have updated their price targets for Adobe, with Bank of America raising theirs to $475.00 and Melius downgrading to a sell rating with a target of $310.00.

Radnor Capital Management LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,427 shares of the software company's stock after acquiring an additional 1,700 shares during the quarter. Radnor Capital Management LLC's holdings in Adobe were worth $2,486,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. DLK Investment Management LLC increased its holdings in Adobe by 2.8% in the second quarter. DLK Investment Management LLC now owns 11,712 shares of the software company's stock valued at $4,531,000 after buying an additional 324 shares during the last quarter. Pines Wealth Management LLC increased its holdings in Adobe by 8.1% in the second quarter. Pines Wealth Management LLC now owns 2,376 shares of the software company's stock valued at $901,000 after buying an additional 179 shares during the last quarter. Sunpointe LLC increased its holdings in Adobe by 90.1% in the second quarter. Sunpointe LLC now owns 1,213 shares of the software company's stock valued at $469,000 after buying an additional 575 shares during the last quarter. Taylor Hoffman Capital Management LLC increased its holdings in Adobe by 7.3% in the second quarter. Taylor Hoffman Capital Management LLC now owns 13,045 shares of the software company's stock valued at $5,047,000 after buying an additional 890 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in Adobe by 1.7% in the second quarter. Gateway Investment Advisers LLC now owns 118,942 shares of the software company's stock valued at $46,016,000 after buying an additional 2,026 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $352.73 on Wednesday. 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 of $356.13 and a 200-day moving average of $378.15. The company has a market capitalization of $149.63 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company'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. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADBE. Bank of America boosted their price objective on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Robert W. Baird upped their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a report on Monday, August 11th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $435.63.

Adobe 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.

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