Great Lakes Advisors LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,518 shares of the software company's stock after purchasing an additional 12,137 shares during the quarter. Great Lakes Advisors LLC's holdings in Adobe were worth $12,842,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new stake in shares of Adobe during the 1st quarter worth $34,000. PFG Advisors grew its holdings in shares of Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Adobe during the 1st quarter worth $305,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ADBE. Wells Fargo & Company reissued an "overweight" rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Friday. UBS Group reduced their price objective on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research note on Friday. Mizuho reduced their price objective on Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Finally, Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $435.63.
Read Our Latest Stock Analysis on ADBE
Adobe Trading Down 0.3%
Shares of ADBE stock traded down $1.19 during mid-day trading on Friday, reaching $349.36. 14,118,114 shares of the stock traded hands, compared to its average volume of 3,814,649. The stock's fifty day simple moving average is $357.32 and its two-hundred day simple moving average is $379.80. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The company has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.
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, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 56.30% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the firm posted $4.65 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS 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.
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