Precision Wealth Strategies LLC Invests $318,000 in Adobe Inc. $ADBE

Key Points

• Precision Wealth Strategies LLC invested approximately $318,000 in Adobe Inc., acquiring 821 shares during the 2nd quarter, as reported in their Form 13F filing with the SEC.
• Adobe's stock is currently rated with a consensus of "Hold," with several price target adjustments from analysts, including Barclays raising their target to $465.00 and Redburn Atlantic lowering it to $280.00.
• In its latest quarterly earnings, Adobe reported $5.31 earnings per share, exceeding expectations and showing a 10.7% year-over-year revenue increase to $5.99 billion.

Precision Wealth Strategies LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 821 shares of the software company's stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter valued at approximately $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Barclays raised 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. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Finally, Stifel Nicolaus lowered their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Adobe has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Performance

ADBE stock opened at $343.72 on Thursday. The stock's 50 day simple moving average is $354.11 and its 200 day simple moving average is $373.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market capitalization of $143.88 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The company's revenue 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, research analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.