Farther Finance Advisors LLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,227 shares of the software company's stock after buying an additional 1,670 shares during the quarter. Farther Finance Advisors LLC's holdings in Adobe were worth $4,344,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Copia Wealth Management purchased a new position in shares of Adobe in the 4th quarter valued at about $28,000. SWAN Capital LLC purchased a new position in shares of Adobe in the 4th quarter valued at about $28,000. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $26,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 81.79% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on ADBE shares. DA Davidson restated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $435.63.
View Our Latest Analysis on ADBE
Adobe Price Performance
Shares of ADBE stock traded down $1.82 during trading hours on Monday, reaching $364.08. The company had a trading volume of 4,704,525 shares, compared to its average volume of 3,959,226. 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 stock has a fifty day moving average of $355.88 and a 200-day moving average of $375.99. The company has a market capitalization of $154.44 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month 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, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.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 earnings per share. The business's revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts anticipate 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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