Gateway Investment Advisers LLC boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,942 shares of the software company's stock after purchasing an additional 2,026 shares during the quarter. Gateway Investment Advisers LLC's holdings in Adobe were worth $46,016,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new stake in shares of Adobe in the 4th quarter worth $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe in the 4th quarter worth $28,000. 1248 Management LLC acquired a new stake in shares of Adobe in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the 1st quarter worth $26,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the 1st quarter worth $29,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ADBE. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Mizuho cut their price objective on Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. DA Davidson reissued a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $435.63.
View Our Latest Stock Report on Adobe
Adobe Price Performance
ADBE stock opened at $352.73 on Wednesday. The business has a 50 day moving average price of $356.13 and a 200 day moving average price of $378.15. The stock has a market cap of $149.63 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.57 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.
Adobe (NASDAQ:ADBE - Get Free Report) last posted 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 firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
About Adobe
(
Free Report)
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.
See Also
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