Adobe Inc. $ADBE Shares Purchased by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Adobe Inc. by 1.0% during the second quarter, owning 248,556 shares valued at approximately $96.16 million.
• Wall Street analysts have varied opinions on Adobe, with target prices ranging from $280.00 to $480.00, affecting the stock's average rating of "Hold" and average target price of $433.41.
• Adobe reported earnings of $5.31 EPS for the last quarter, exceeding expectations and highlighting a 10.7% year-over-year revenue growth, with projected fiscal guidance for FY 2025 set between $20.800 and $20.850 EPS.

Chevy Chase Trust Holdings LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,556 shares of the software company's stock after buying an additional 2,360 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Adobe worth $96,161,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADBE shares. Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and decreased 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 price target on shares of Adobe in a report on Monday, September 1st. Finally, UBS Group cut their price target on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Adobe presently has an average rating of "Hold" and an average target price of $433.41.

Adobe Stock Down 0.4%

Shares of NASDAQ:ADBE opened at $329.23 on Friday. The firm has a market cap of $137.82 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.49. The company has a fifty day simple moving average of $351.14 and a 200 day simple moving average of $369.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during 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 revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company 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. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.

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