Calamos Wealth Management LLC Acquires Shares of 23,744 Adobe Inc. $ADBE

Key Points

• Calamos Wealth Management LLC has acquired 23,744 shares of Adobe Inc., valued at approximately $9.19 million, as stated in its most recent SEC filing.
• Adobe reported a quarterly earnings per share (EPS) of $5.31, exceeding analysts' estimates of $5.18, with revenues rising 10.7% year-over-year to $5.99 billion.
• Adobe's stock has seen recent downgrades from various analysts, with price targets ranging widely, including a reduction from $420 to $280 by Redburn Atlantic.

Calamos Wealth Management LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,744 shares of the software company's stock, valued at approximately $9,186,000.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the first quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new position in Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter worth $30,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Adobe during the second quarter worth $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE opened at $333.26 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $139.50 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The firm's fifty day simple moving average is $350.99 and its two-hundred day simple moving average is $368.75. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. The business had revenue of $5.99 billion for 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 business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ADBE shares. Wall Street Zen downgraded shares of Adobe from a "buy" rating to a "hold" rating in a report on Saturday. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Citigroup lowered their price target on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Barclays upped their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Adobe presently has a consensus rating of "Hold" and a consensus target price of $433.41.

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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