RPG Investment Advisory LLC Raises Stock Holdings in Adobe Inc. $ADBE

Key Points

• RPG Investment Advisory LLC increased its stake in Adobe Inc. by 105.3% in the 1st quarter, owning 48,448 shares valued at approximately $18.58 million.
• Several institutional investors, including Ameriprise Financial Inc., also enhanced their positions in Adobe during the same quarter, highlighting strong institutional interest with 81.79% of the stock owned by such investors.
• Adobe's recent financial performance exceeded expectations, reporting $5.06 EPS and revenue of $5.87 billion, while analysts project an average price target of $467.58 with a consensus rating of "Moderate Buy."

RPG Investment Advisory LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 105.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,448 shares of the software company's stock after buying an additional 24,844 shares during the period. RPG Investment Advisory LLC's holdings in Adobe were worth $18,581,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Kelly Lawrence W & Associates Inc. CA grew its position in shares of Adobe by 0.5% during the first quarter. Kelly Lawrence W & Associates Inc. CA now owns 23,179 shares of the software company's stock worth $8,890,000 after buying an additional 120 shares in the last quarter. Compound Planning Inc. grew its position in shares of Adobe by 24.4% during the first quarter. Compound Planning Inc. now owns 4,774 shares of the software company's stock worth $1,831,000 after buying an additional 936 shares in the last quarter. Monetary Management Group Inc. boosted its holdings in shares of Adobe by 2.4% in the first quarter. Monetary Management Group Inc. now owns 4,220 shares of the software company's stock valued at $1,618,000 after acquiring an additional 100 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Adobe by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 2,814,425 shares of the software company's stock valued at $1,079,353,000 after acquiring an additional 215,287 shares during the period. Finally, Bragg Financial Advisors Inc lifted its holdings in shares of Adobe by 8.1% during the first quarter. Bragg Financial Advisors Inc now owns 24,792 shares of the software company's stock worth $9,509,000 after purchasing an additional 1,865 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADBE shares. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Citigroup dropped their price target on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. DA Davidson reiterated a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, June 20th. Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $467.58.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $353.43 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $587.75. The stock has a market capitalization of $149.93 billion, a P/E ratio of 22.61, a PEG ratio of 1.68 and a beta of 1.51. The stock has a 50-day simple moving average of $367.17 and a 200-day simple moving average of $390.51.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.

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