Adobe Inc. $ADBE Stake Boosted by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC increased its stake in Adobe by 20.2% during the 2nd quarter, owning a total of 11,392 shares valued at approximately $4.4 million.
• Multiple analysts have downgraded their ratings for Adobe, with Melius reducing it from "hold" to "sell" and setting a price target at $310.00.
• Adobe's recent quarterly earnings report showed an EPS of $5.31, exceeding expectations and representing a 10.7% increase in revenue year-over-year.

WealthPlan Investment Management LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,392 shares of the software company's stock after purchasing an additional 1,916 shares during the quarter. WealthPlan Investment Management LLC's holdings in Adobe were worth $4,407,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ADBE. Schmidt P J Investment Management Inc. grew its position in shares of 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 last quarter. GS Investments Inc. grew 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 valued at $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co grew its position 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 purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC grew its position in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after purchasing an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. grew its position in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock valued at $209,000 after purchasing an additional 27 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Citigroup decreased their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Finally, UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Adobe presently has an average rating of "Hold" and an average price target of $433.41.

Adobe Stock Down 1.6%

Shares of ADBE opened at $330.63 on Thursday. The stock has a market cap of $138.40 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 1.51 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 12 month low of $329.20 and a 12 month high of $557.90. The company has a 50-day moving average price of $351.33 and a two-hundred day moving average price of $369.58.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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. The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company 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 analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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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