Concurrent Investment Advisors LLC Has $3.65 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Concurrent Investment Advisors LLC increased its stake in Adobe Inc. by 102.4% in Q2, bringing its total holdings to 9,423 shares valued at $3.65 million.
• Despite positive earnings results with an EPS of $5.31 beating estimates, several investment firms have downgraded Adobe's stock rating and reduced price targets significantly.
• Currently, approximately 81.79% of Adobe's stock is owned by institutional investors and hedge funds, indicating strong institutional interest.

Concurrent Investment Advisors LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 102.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,423 shares of the software company's stock after buying an additional 4,767 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Adobe were worth $3,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADBE. Brighton Jones LLC lifted its position in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Adobe by 22.3% during the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock valued at $2,991,000 after purchasing an additional 1,422 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Adobe by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company's stock valued at $44,283,000 after purchasing an additional 4,306 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Adobe by 17.6% during the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company's stock valued at $118,000 after purchasing an additional 46 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its position in Adobe by 2.9% in the first quarter. Cyndeo Wealth Partners LLC now owns 7,764 shares of the software company's stock worth $2,978,000 after acquiring an additional 216 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 0.5%

NASDAQ:ADBE opened at $339.32 on Tuesday. The company has a fifty day moving average of $351.68 and a 200 day moving average of $370.09. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $142.04 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business earned $4.65 EPS. The company'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 predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Melius cut shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. Oppenheimer cut their price target on shares of 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 cut their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Finally, Evercore ISI lowered their price objective on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Adobe has an average rating of "Hold" and a consensus price target 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.