Adobe Inc. $ADBE Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its stake in Adobe Inc. by 9.8%, owning 13,770 shares worth approximately $5.28 million, according to a recent SEC filing.
• Adobe's shares received mixed ratings, with analysts projecting a consensus price target of $446.74 and distributions of "Strong Buy," "Buy," "Hold," and "Sell" ratings among research analysts.
• Adobe's recent quarterly earnings report indicated a 10.6% revenue growth year-over-year, surpassing analysts' consensus expectations for both EPS and revenue.

Geneos Wealth Management Inc. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,770 shares of the software company's stock after buying an additional 1,234 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Adobe were worth $5,281,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Adobe by 12.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after purchasing an additional 600,146 shares during the last quarter. Finally, Amundi increased its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.3%

Adobe stock traded down $1.19 during trading on Friday, reaching $349.36. 14,118,114 shares of the company were exchanged, compared to its average volume of 3,814,649. The stock's 50 day simple moving average is $357.32 and its two-hundred day simple moving average is $379.37. 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 has a market capitalization of $148.20 billion, a P/E ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its 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. Adobe had a return on equity of 56.30% 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 quarter last year, the firm earned $4.65 earnings per share. The firm's quarterly 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 research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group cut their price objective on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and cut their price objective for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday. 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. Based on data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $435.63.

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.