Simplicity Wealth LLC Boosts Holdings in Adobe Inc. $ADBE

Key Points

• Simplicity Wealth LLC increased its holdings in Adobe Inc. by 85.4% in the second quarter, now owning 4,840 shares valued at $1.87 million.
• Other major investors, including Vanguard Group and Goldman Sachs, have also significantly increased their stakes in Adobe, indicating strong institutional interest.
• Adobe reported $5.31 earnings per share for the last quarter, surpassing estimates, and projected FY 2025 guidance between 20.800-20.850 EPS.

Simplicity Wealth LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 85.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,840 shares of the software company's stock after buying an additional 2,229 shares during the quarter. Simplicity Wealth LLC's holdings in Adobe were worth $1,872,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its stake in Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after acquiring an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after acquiring an additional 126,688 shares during the period. Amundi lifted its holdings in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

ADBE stock opened at $346.74 on Monday. The stock has a market cap of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a 50-day moving average price of $353.22 and a 200 day moving average price of $372.14. 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 (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Stifel Nicolaus dropped their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Piper Sandler decreased their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a research note on Friday, September 12th. Finally, Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of "Hold" and a consensus target price of $433.41.

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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