Nicola Wealth Management LTD. Purchases 3,100 Shares of Adobe Inc. $ADBE

Key Points

• Nicola Wealth Management LTD. increased its stake in Adobe Inc. by 7.5%, owning now 44,200 shares valued at approximately $16.95 million.
• Adobe reported earnings of $5.06 per share for the last quarter, exceeding expectations and showing a 10.6% increase in revenue from the previous year.
• Research analysts have given Adobe mixed ratings, with an average target price of $444.89, reflecting a mixture of "buy," "hold," and "sell" ratings.

Nicola Wealth Management LTD. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,200 shares of the software company's stock after purchasing an additional 3,100 shares during the quarter. Adobe accounts for about 1.7% of Nicola Wealth Management LTD.'s portfolio, making the stock its 22nd biggest position. Nicola Wealth Management LTD.'s holdings in Adobe were worth $16,952,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its holdings in Adobe by 8.6% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 578 shares of the software company's stock worth $222,000 after purchasing an additional 46 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Adobe by 62.6% in the 1st quarter. Modern Wealth Management LLC now owns 9,518 shares of the software company's stock valued at $3,651,000 after acquiring an additional 3,666 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Adobe in the 1st quarter valued at $144,000. Strs Ohio acquired a new position in shares of Adobe during the 1st quarter worth $37,353,000. Finally, Turn8 Private Wealth Inc. raised its holdings in shares of Adobe by 25.3% during the 1st quarter. Turn8 Private Wealth Inc. now owns 6,421 shares of the software company's stock worth $2,463,000 after buying an additional 1,297 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ADBE shares. Barclays boosted their price target on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Redburn Partners set a $280.00 price objective on Adobe in a research report on Monday, September 1st. Finally, Wells Fargo & Company restated an "overweight" rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $435.63.

Adobe Trading Down 0.6%

Shares of NASDAQ:ADBE traded down $2.26 during midday trading on Monday, reaching $347.10. The company's stock had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. The firm has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a 50 day moving average price of $357.32 and a two-hundred day moving average price of $378.97. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm's revenue 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. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.