SteelPeak Wealth LLC Grows Stock Holdings in Adobe Inc. $ADBE

Key Points

• SteelPeak Wealth LLC increased its stake in Adobe Inc. by 14.8% in Q2, acquiring 3,232 additional shares to own a total of 25,034 shares valued at approximately $9.69 million.
• Adobe's recent quarterly earnings showed EPS of $5.31, surpassing expectations, with a revenue increase of 10.7% YOY at $5.99 billion.
• Several analysts downgraded their ratings and price targets for Adobe, with Morgan Stanley reducing its price target from $520.00 to $450.00 and maintaining an "equal weight" rating.

SteelPeak Wealth LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,034 shares of the software company's stock after buying an additional 3,232 shares during the period. SteelPeak Wealth LLC's holdings in Adobe were worth $9,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Motiv8 Investments LLC boosted its holdings in Adobe by 10.6% during the second quarter. Motiv8 Investments LLC now owns 2,918 shares of the software company's stock worth $1,129,000 after buying an additional 280 shares in the last quarter. KPP Advisory Services LLC boosted its holdings in Adobe by 6.7% during the second quarter. KPP Advisory Services LLC now owns 1,216 shares of the software company's stock worth $470,000 after buying an additional 76 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in Adobe by 17.6% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,187 shares of the software company's stock worth $1,233,000 after buying an additional 477 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in Adobe by 90.8% during the second quarter. Valley National Advisers Inc. now owns 1,225 shares of the software company's stock worth $474,000 after buying an additional 583 shares in the last quarter. Finally, PUREfi Wealth LLC boosted its holdings in Adobe by 27.4% during the second quarter. PUREfi Wealth LLC now owns 2,029 shares of the software company's stock worth $785,000 after buying an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $350.14 on Tuesday. The firm has a 50 day simple moving average of $352.83 and a 200-day simple moving average of $371.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $146.57 billion, a PE ratio of 21.82, a P/E/G ratio of 1.55 and a beta of 1.49. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADBE. Morgan Stanley downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research report on Friday, September 12th. Citigroup cut their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. Piper Sandler cut their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Adobe in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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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