Chicago Partners Investment Group LLC Acquires 1,699 Shares of Adobe Inc. $ADBE

Chicago Partners Investment Group LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 48.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,193 shares of the software company’s stock after purchasing an additional 1,699 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Adobe were worth $1,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Assenagon Asset Management S.A. grew its position in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new stake in Adobe during the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Amundi grew its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADBE. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Oppenheimer cut their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Up 1.2%

Shares of NASDAQ:ADBE opened at $333.26 on Monday. The company has a market capitalization of $139.50 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. 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 business’s 50-day moving average is $350.99 and its 200-day moving average is $368.76. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $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. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.