Exchange Traded Concepts LLC Purchases 29,878 Shares of Adobe Inc. $ADBE

Key Points

• Exchange Traded Concepts LLC increased its holdings in Adobe Inc. by 151.0% in Q2, owning 49,663 shares valued at approximately $19.2 million.
• Adobe reported strong Q3 earnings, with $5.31 EPS, surpassing estimates, and revenue growth of 10.7% year-over-year.
• Analysts have issued a consensus rating of "Moderate Buy" for Adobe, with an average price target of $435.63.

Exchange Traded Concepts LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 151.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,663 shares of the software company's stock after purchasing an additional 29,878 shares during the quarter. Exchange Traded Concepts LLC's holdings in Adobe were worth $19,214,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. RB Capital Management LLC raised its position in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares during the last quarter. Orin Green Financial LLC raised its position in Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares during the last quarter. Schmidt P J Investment Management Inc. raised its position in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock worth $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. raised its position in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after purchasing an additional 26 shares during the last quarter. Finally, Ted Buchan & Co raised its position in Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock worth $525,000 after purchasing an additional 26 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADBE. Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. 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 research report on Friday, September 12th. DA Davidson reaffirmed a "buy" rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Mizuho reduced their target price on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $1.56 during trading hours on Friday, hitting $365.90. 7,675,797 shares of the stock were exchanged, compared to its average volume of 4,978,333. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market cap of $155.21 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company's fifty day simple moving average is $355.88 and its two-hundred day simple moving average is $376.47. 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 posted its quarterly earnings results 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business 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. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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.