Private Client Services LLC Makes New $296,000 Investment in Adobe Inc. $ADBE

Key Points

• Private Client Services LLC has made a new investment in Adobe Inc., purchasing 764 shares valued at approximately $296,000.
• Adobe's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $435.63 amidst varying target price adjustments from several firms.
• Adobe recently reported earnings of $5.31 per share, surpassing expectations, with a revenue growth of 10.7% year-over-year.

Private Client Services LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 764 shares of the software company's stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Copia Wealth Management acquired a new stake in shares of Adobe during the 4th quarter worth about $28,000. SWAN Capital LLC acquired a new stake in shares of Adobe during the 4th quarter worth about $28,000. 1248 Management LLC acquired a new stake in shares of Adobe during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe during the 1st quarter worth about $26,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Adobe during the 1st quarter worth about $29,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ADBE shares. Stifel Nicolaus lowered their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Royal Bank Of Canada lowered their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Mizuho lowered their target price on Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Piper Sandler decreased their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $349.36 on Friday. The company's 50 day simple moving average is $357.32 and its 200 day simple moving average is $379.37. The stock has a market capitalization of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.48. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

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.