Apollon Wealth Management LLC Has $4.91 Million Stock Holdings in Adobe Inc. $ADBE

Key Points

• Apollon Wealth Management LLC reduced its holdings in Adobe Inc. by 11.1%, ending the 2nd quarter with 12,697 shares valued at approximately $4.91 million.
• A number of analysts have adjusted their ratings for Adobe, with Mizuho downgrading the stock to "hold" while Barclays raised their price target from $460 to $465.
• Adobe reported a 10.7% year-over-year revenue increase in its latest earnings, generating $5.99 billion and exceeding analysts' expectations.

Apollon Wealth Management LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,697 shares of the software company's stock after selling 1,592 shares during the period. Apollon Wealth Management LLC's holdings in Adobe were worth $4,912,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Van Strum & Towne Inc. lifted its position in shares of Adobe by 2.9% during the 2nd quarter. Van Strum & Towne Inc. now owns 2,733 shares of the software company's stock worth $1,057,000 after purchasing an additional 78 shares during the last quarter. Bey Douglas LLC lifted its position in shares of Adobe by 38.6% during the 2nd quarter. Bey Douglas LLC now owns 15,323 shares of the software company's stock worth $5,928,000 after purchasing an additional 4,271 shares during the last quarter. Fulcrum Capital LLC raised its holdings in Adobe by 34.6% in the 2nd quarter. Fulcrum Capital LLC now owns 34,692 shares of the software company's stock valued at $13,422,000 after acquiring an additional 8,910 shares in the last quarter. Lindenwold Advisors INC lifted its position in shares of Adobe by 53.9% in the 2nd quarter. Lindenwold Advisors INC now owns 6,101 shares of the software company's stock worth $2,360,000 after acquiring an additional 2,138 shares during the period. Finally, Applied Capital LLC FL lifted its position in shares of Adobe by 186.7% in the 2nd quarter. Applied Capital LLC FL now owns 1,812 shares of the software company's stock worth $701,000 after acquiring an additional 1,180 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADBE shares. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Barclays raised their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Oppenheimer lowered their target price on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Down 2.9%

ADBE stock opened at $337.51 on Friday. The business has a fifty day moving average price of $351.67 and a 200 day moving average price of $370.59. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The stock has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results 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 firm 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 business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $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. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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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