Ethic Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,036 shares of the software company's stock after buying an additional 837 shares during the quarter. Ethic Inc.'s holdings in Adobe were worth $16,990,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its stake in shares of Adobe by 2.1% in the 4th 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 during the last quarter. GAMMA Investing LLC grew its holdings in Adobe by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock worth $2,991,000 after acquiring an additional 1,422 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Adobe by 3.3% during the first quarter. Asset Management One Co. Ltd. now owns 219,510 shares of the software company's stock worth $84,189,000 after purchasing an additional 7,016 shares during the period. GHP Investment Advisors Inc. grew its holdings in shares of Adobe by 8.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 15,332 shares of the software company's stock valued at $5,880,000 after buying an additional 1,186 shares during the period. Finally, Legacy Advisors LLC increased its position in shares of Adobe by 2.5% in the 1st quarter. Legacy Advisors LLC now owns 2,004 shares of the software company's stock valued at $769,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on ADBE shares. Oppenheimer lowered 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. Morgan Stanley lowered shares of Adobe from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Citigroup lowered 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. Weiss Ratings restated a "hold (c-)" rating on shares of Adobe in a report on Wednesday, October 8th. Finally, BMO Capital Markets decreased their price objective on Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $433.41.
Check Out Our Latest Report on ADBE
Adobe Price Performance
NASDAQ:ADBE opened at $355.03 on Wednesday. The company has a market cap of $148.61 billion, a P/E ratio of 22.10, a P/E/G ratio of 1.54 and a beta of 1.49. The firm's fifty day moving average price is $351.57 and its two-hundred day moving average price is $368.64. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. 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 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 firm had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same period in the prior year, the firm earned $4.65 EPS. The business's revenue 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. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.
About Adobe
(
Free Report)
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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