GC Wealth Management RIA LLC Takes Position in Adobe Inc. $ADBE

Key Points

• GC Wealth Management RIA LLC has acquired a new position in Adobe Inc., purchasing 5,248 shares valued at approximately $2,030,000.
• Several institutional investors, including Assenagon Asset Management and Goldman Sachs, have significantly increased their holdings in Adobe during the second quarter, indicating strong institutional interest.
• Adobe reported $5.31 EPS for the last quarter, exceeding analysts' expectations, and increased its FY 2025 earnings guidance to 20.800-20.850 EPS.

GC Wealth Management RIA LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,248 shares of the software company's stock, valued at approximately $2,030,000.

Several other large investors also recently added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. increased its position in shares of Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC bought a new position in Adobe in the first quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after purchasing an additional 1,216,351 shares in the last quarter. Finally, Amundi increased its holdings in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Down 0.3%

Shares of ADBE stock opened at $359.42 on Tuesday. The stock's fifty day moving average price is $355.08 and its 200 day moving average price is $373.36. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The company has a market cap of $150.45 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. 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 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 company had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the business posted $4.65 earnings per share. The firm'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, research analysts expect that Adobe Inc. will post 16.65 earnings per share 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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