Adobe Inc. $ADBE Shares Purchased by Mcdaniel Terry & Co.

Key Points

• Mcdaniel Terry & Co. increased its stake in Adobe by 2.8%, holding 39,507 shares valued at approximately $15.28 million, making it the company's 28th largest position.
• Adobe's recent financial report showed earnings of $5.31 per share, exceeding analysts' expectations, with a 10.7% year-over-year revenue growth.
• Despite strong performance, analysts have downgraded Adobe stock, with price targets significantly reduced, reflecting mixed sentiments in the market.

Mcdaniel Terry & Co. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,507 shares of the software company's stock after buying an additional 1,093 shares during the quarter. Adobe accounts for 1.3% of Mcdaniel Terry & Co.'s investment portfolio, making the stock its 28th largest position. Mcdaniel Terry & Co.'s holdings in Adobe were worth $15,284,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its position in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi grew its position in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 0.2%

Shares of NASDAQ ADBE opened at $353.52 on Friday. The business has a 50-day moving average price of $351.71 and a 200 day moving average price of $368.72. The stock has a market cap of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.59 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 52-week low of $327.50 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The company 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 for the quarter was up 10.7% on a year-over-year basis. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Mizuho cut Adobe from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded Adobe from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $433.41.

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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