Adobe Inc. $ADBE Shares Acquired by LaFleur & Godfrey LLC

Key Points

• LaFleur & Godfrey LLC increased its holdings in Adobe Inc. by 39.5%, now owning 3,761 shares valued at approximately $1.46 million.
• Analysts have varied opinions on Adobe's stock, with target prices ranging from $280 to $500, and an average rating of "Moderate Buy".
• Adobe's most recent earnings report showed an EPS of $5.31, exceeding estimates and reflecting a 10.7% year-over-year growth in revenue.

LaFleur & Godfrey LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 39.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,761 shares of the software company's stock after purchasing an additional 1,065 shares during the quarter. LaFleur & Godfrey LLC's holdings in Adobe were worth $1,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Chapin Davis Inc. grew its holdings in Adobe by 20.1% during the second quarter. Chapin Davis Inc. now owns 2,821 shares of the software company's stock valued at $1,091,000 after purchasing an additional 473 shares during the period. GAMMA Investing LLC increased its holdings in shares of Adobe by 1.4% in the 2nd quarter. GAMMA Investing LLC now owns 7,905 shares of the software company's stock worth $3,058,000 after purchasing an additional 107 shares in the last quarter. Scharf Investments LLC boosted its holdings in shares of Adobe by 5,059.0% in the second quarter. Scharf Investments LLC now owns 236,955 shares of the software company's stock worth $91,679,000 after buying an additional 232,362 shares during the last quarter. Ridgewood Investments LLC increased its stake in Adobe by 7.2% in the 2nd quarter. Ridgewood Investments LLC now owns 3,720 shares of the software company's stock worth $1,439,000 after buying an additional 251 shares in the last quarter. Finally, Narus Financial Partners LLC boosted its stake in Adobe by 81.1% during the second quarter. Narus Financial Partners LLC now owns 1,190 shares of the software company's stock valued at $460,000 after buying an additional 533 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Robert W. Baird upped their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Finally, Barclays boosted their price objective on Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Price Performance

ADBE traded down $1.82 on Monday, reaching $364.08. The stock had a trading volume of 4,704,525 shares, compared to its average volume of 5,210,053. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The firm has a 50-day moving average of $355.82 and a 200-day moving average of $375.39. The company has a market capitalization of $154.44 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. 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 (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current 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.