Adobe Inc. $ADBE Shares Purchased by First Financial Bankshares Inc

Key Points

• First Financial Bankshares Inc increased its holdings in Adobe Inc. by 15.7%, owning 45,578 shares valued at approximately $17.48 million at the end of the most recent quarter.
• Multiple institutional investors have also raised their stakes in Adobe, with 81.79% of the stock currently owned by institutional investors and hedge funds.
• Adobe reported quarterly earnings of $5.06 EPS, surpassing consensus estimates, with revenue of $5.87 billion, reflecting a year-over-year growth of 10.6%.

First Financial Bankshares Inc raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,578 shares of the software company's stock after purchasing an additional 6,188 shares during the period. First Financial Bankshares Inc's holdings in Adobe were worth $17,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Copia Wealth Management bought a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. SWAN Capital LLC bought a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the first quarter valued at approximately $30,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Adobe during the fourth quarter valued at approximately $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Citigroup dropped their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Oppenheimer lowered their target price on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Finally, Redburn Partners set a $280.00 target price on Adobe in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average price target of $459.52.

Adobe Price Performance

ADBE stock traded down $4.19 during trading on Thursday, hitting $344.31. The stock had a trading volume of 4,914,154 shares, compared to its average volume of 3,757,559. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The company's 50-day moving average price is $361.95 and its two-hundred day moving average price is $384.71. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $587.75. The stock has a market capitalization of $146.06 billion, a P/E ratio of 22.03, a PEG ratio of 1.69 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.