Fragasso Financial Advisors Inc Purchases 1,408 Shares of Adobe Inc. $ADBE

Key Points

• Fragasso Financial Advisors Inc has increased its stake in Adobe Inc. by 32.1%, now holding 5,798 shares worth approximately $2.24 million.
• Multiple institutions have recently bought stakes in Adobe, with institutional investors collectively owning 81.79% of the stock.
• Adobe reported earnings of $5.31 per share, surpassing estimates, and its revenue increased 10.7% year-over-year, prompting analysts to revise price targets for the stock.

Fragasso Financial Advisors Inc grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,798 shares of the software company's stock after purchasing an additional 1,408 shares during the period. Fragasso Financial Advisors Inc's holdings in Adobe were worth $2,243,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter worth approximately $28,000. SWAN Capital LLC purchased a new stake in shares of Adobe in the fourth quarter worth approximately $28,000. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter worth approximately $26,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the first quarter worth approximately $29,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. BMO Capital Markets reduced their price objective on Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a report on Friday. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th. DA Davidson restated a "buy" rating and set a $500.00 price objective on shares of Adobe in a report on Friday. Barclays raised their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $435.63.

Adobe Trading Down 0.6%

ADBE stock opened at $347.10 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market cap of $147.24 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48. The business's 50-day moving average is $356.72 and its 200 day moving average is $378.33.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same period in the previous year, the firm posted $4.65 EPS. Adobe'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, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.

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