Global Assets Advisory LLC Acquires 1,326 Shares of Adobe Inc. $ADBE

Key Points

• Global Assets Advisory LLC increased its holdings in Adobe Inc. by 222.5% during the second quarter, acquiring an additional 1,326 shares, leading to a total ownership of 1,922 shares worth $754,000.
• Adobe reported earnings of $5.31 per share for the last quarter, surpassing estimates, with revenue of $5.99 billion representing a 10.7% year-over-year growth.
• Several analysts have adjusted their price targets for Adobe, with a consensus rating of "Hold" and a price target averaging $433.41.

Global Assets Advisory LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 222.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,922 shares of the software company's stock after buying an additional 1,326 shares during the period. Global Assets Advisory LLC's holdings in Adobe were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ADBE. Garde Capital Inc. bought a new position in Adobe in the first quarter worth approximately $34,000. PFG Advisors increased its stake in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares during the period. Financial Counselors Inc. lifted its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in Adobe during the first quarter valued at about $305,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ:ADBE opened at $346.74 on Monday. The firm has a market capitalization of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $353.22 and a 200-day simple moving average of $372.14. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer decreased their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. DA Davidson reiterated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. BMO Capital Markets decreased their price objective on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Finally, Bank of America lifted their target price on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $433.41.

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.

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