Adobe Inc. $ADBE Stock Position Lifted by Advocate Group LLC

Key Points

• Advocate Group LLC increased its stake in Adobe Inc. by 6.1% during the second quarter, now owning 14,551 shares valued at $5,629,000.
• Adobe's stock experienced a 2.9% decline, currently trading at $337.51, amidst a market cap of $141.28 billion and a P/E ratio of 21.03.
• In its latest earnings report, Adobe surpassed expectations with $5.31 EPS and $5.99 billion in revenue for the quarter, reflecting a 10.7% year-over-year increase.

Advocate Group LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,551 shares of the software company's stock after purchasing an additional 837 shares during the quarter. Advocate Group LLC's holdings in Adobe were worth $5,629,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schmidt P J Investment Management Inc. boosted its stake in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after buying an additional 25 shares in the last quarter. GS Investments Inc. boosted its stake in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after buying an additional 26 shares in the last quarter. Ted Buchan & Co boosted its stake in Adobe by 1.9% during 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 boosted its stake in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after buying an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. boosted its stake in Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock valued at $209,000 after buying an additional 27 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Down 2.9%

Shares of Adobe stock opened at $337.51 on Friday. The stock has a 50-day moving average price of $351.67 and a 200 day moving average price of $370.59. The company has a market cap of $141.28 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $330.04 and a 1 year 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, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.65 EPS. 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADBE. Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Royal Bank Of Canada reduced their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Evercore ISI reduced their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Finally, Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock 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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