Adobe Inc. $ADBE Shares Purchased by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC increased its shares in Adobe Inc. by 62.6% in the first quarter, holding a total of 9,518 shares valued at $3.65 million.
• Adobe recently reported $5.31 EPS for the last quarter, exceeding estimates, with revenues totaling $5.99 billion, a 10.7% increase year-over-year.
• Several analysts have lowered their price targets for Adobe; UBS reduced its target from $400 to $375, reflecting a moderate buy rating with an average target price of $435.63.

Modern Wealth Management LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 62.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,518 shares of the software company's stock after buying an additional 3,666 shares during the quarter. Modern Wealth Management LLC's holdings in Adobe were worth $3,651,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ADBE. Copia Wealth Management purchased a new stake in Adobe in the fourth quarter worth approximately $28,000. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $28,000. 1248 Management LLC purchased a new stake in Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the first quarter valued at $26,000. Finally, Flaharty Asset Management LLC purchased a new stake in Adobe during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a report on Wednesday, July 2nd. Piper Sandler decreased their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Finally, Oppenheimer decreased their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Down 0.6%

NASDAQ:ADBE traded down $2.26 during mid-day trading on Monday, hitting $347.10. 6,760,024 shares of the company's stock traded hands, compared to its average volume of 3,900,378. The company has a market capitalization of $147.24 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.65 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 Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a fifty day moving average of $357.32 and a 200 day moving average of $378.97.

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, beating analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.