Adobe Inc. $ADBE Shares Bought by PUREfi Wealth LLC

PUREfi Wealth LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 27.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,029 shares of the software company’s stock after acquiring an additional 436 shares during the period. PUREfi Wealth LLC’s holdings in Adobe were worth $785,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on ADBE. Rothschild & Co Redburn downgraded shares of 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. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Melius downgraded shares of 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 cut their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Evercore ISI cut their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Trading Down 1.3%

Shares of ADBE stock opened at $346.74 on Monday. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $353.22 and its two-hundred day moving average is $372.14. The company has a market cap of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate 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 last year, the company 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. Equities analysts predict that Adobe Inc. will post 16.65 EPS 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.