Adobe Inc. $ADBE Shares Purchased by Exchange Capital Management Inc.

Key Points

• Exchange Capital Management Inc. increased its holdings in Adobe Inc. by 26.2%, resulting in ownership of 9,294 shares worth approximately $3,595,000.
• Despite recent downgrades from some analysts, Adobe reported quarterly earnings of $5.31 per share, surpassing estimates and showing a 10.7% year-over-year revenue growth to $5.99 billion.
• The average target price set by analysts for Adobe shares is $433.41, with a consensus rating of "Hold" reflecting a mixture of ratings across the board.

Exchange Capital Management Inc. raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,294 shares of the software company's stock after purchasing an additional 1,928 shares during the quarter. Exchange Capital Management Inc.'s holdings in Adobe were worth $3,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. 1248 Management LLC purchased a new position in Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the 1st quarter worth $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the 1st quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADBE shares. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Piper Sandler dropped their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. Morgan Stanley lowered Adobe from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. Finally, Royal Bank Of Canada reduced their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Adobe presently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Trading Up 2.3%

NASDAQ:ADBE opened at $351.48 on Friday. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The stock has a market cap of $147.13 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $353.70 and a 200-day simple moving average of $372.68.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 return on equity of 57.54% and a net margin of 30.01%.The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior 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. As a group, analysts anticipate 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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