Adobe Inc. $ADBE Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,063 shares of the software company's stock after purchasing an additional 1,473 shares during the period. Sequoia Financial Advisors LLC's holdings in Adobe were worth $3,893,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in shares of Adobe in the 1st quarter worth about $34,000. PFG Advisors raised its stake in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after acquiring an additional 855 shares during the period. Krane Funds Advisors LLC raised its stake in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after acquiring an additional 730 shares during the period. Financial Counselors Inc. grew its holdings in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of Adobe during the first quarter valued at approximately $305,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADBE. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Mizuho cut shares of Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. TD Cowen decreased their target price on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Adobe in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $335.94 on Wednesday. The business has a fifty day simple moving average of $351.63 and a 200-day simple moving average of $369.85. The firm has a market cap of $140.62 billion, a PE ratio of 20.93, a P/E/G ratio of 1.52 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

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 the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last 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. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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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