Kennon Green & Company LLC Buys 1,622 Shares of Adobe Inc. $ADBE

Key Points

• Kennon Green & Company LLC increased its stake in Adobe Inc. by 26.4% to a total of 7,776 shares, making Adobe its 16th largest holding.
• Analyst sentiments regarding Adobe are mixed, with Barclays raising its price target to $465 while Morgan Stanley downgraded it to $450, resulting in an average rating of "Hold."
• Adobe's Q3 earnings surpassed estimates, reporting $5.31 EPS on revenues of $5.99 billion, indicating a year-over-year revenue increase of 10.7%.

Kennon Green & Company LLC grew its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,776 shares of the software company's stock after acquiring an additional 1,622 shares during the period. Adobe accounts for about 2.4% of Kennon Green & Company LLC's investment portfolio, making the stock its 16th biggest position. Kennon Green & Company LLC's holdings in Adobe were worth $3,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ADBE. 1248 Management LLC acquired a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter worth $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new position in Adobe in the first quarter valued at about $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on ADBE. Barclays boosted their price objective on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Finally, Oppenheimer dropped their target price on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $335.94 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company's 50 day moving average price is $351.63 and its two-hundred day moving average price is $369.85. The company has a market capitalization of $140.62 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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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