WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST Boosts Stock Position in Adobe Inc. $ADBE

Key Points

• WELLCOME TRUST LTD increased its stake in Adobe Inc. by 3.0%, bringing its total ownership to 750,000 shares, valued at approximately $290.16 million.
• Adobe's recent earnings surpassed expectations with a reported $5.31 earnings per share and revenue of $5.99 billion, indicating a 10.7% increase from the previous year.
• Several analyst upgrades have been noted, with Wells Fargo raising Adobe's price target to $470.00, while the average target across analysts stands at $433.41.

WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 750,000 shares of the software company's stock after purchasing an additional 21,962 shares during the period. Adobe accounts for approximately 3.3% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST's portfolio, making the stock its 16th largest position. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST owned 0.18% of Adobe worth $290,160,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the first quarter worth about $34,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ADBE. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. TD Cowen lowered their target price on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Royal Bank Of Canada lowered their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Barclays lifted their target price on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Finally, Bank of America lifted their target price on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Down 0.4%

NASDAQ:ADBE opened at $347.47 on Friday. 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 company has a market cap of $145.45 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. The company has a 50 day simple moving average of $351.88 and a two-hundred day simple moving average of $371.24.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. The business 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 57.54%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.

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