Adobe Inc. $ADBE Shares Purchased by Lafayette Investments Inc.

Key Points

• Lafayette Investments Inc. increased its holdings in Adobe Inc. by 30.8% in Q2, owning 5,230 shares valued at $2,023,000.
• Recent analyses show varying price targets for Adobe, with Oppenheimer and Royal Bank of Canada lowering their targets, while DA Davidson maintains a "buy" rating with a $500 target.
• Adobe reported earnings of $5.31 per share, exceeding expectations, with revenues of $5.99 billion, marking a 10.7% increase compared to last year.

Lafayette Investments Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 30.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,230 shares of the software company's stock after buying an additional 1,230 shares during the quarter. Lafayette Investments Inc.'s holdings in Adobe were worth $2,023,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADBE. Schmidt P J Investment Management Inc. raised its position in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. boosted its position in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after buying an additional 26 shares during the period. Ted Buchan & Co grew its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC raised its holdings in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after buying an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. lifted its position in Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of several recent research reports. Oppenheimer lowered their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. Royal Bank Of Canada lowered their price target 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. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. DA Davidson reissued a "buy" rating and issued a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Finally, Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Stock Performance

Shares of Adobe stock opened at $343.40 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The firm's 50-day simple moving average is $351.18 and its 200-day simple moving average is $368.72. The firm has a market cap of $143.75 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm earned $4.65 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share 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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