Private Client Services LLC Invests $296,000 in Adobe Inc. $ADBE

Private Client Services LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 764 shares of the software company’s stock, valued at approximately $296,000.

Other hedge funds also recently modified their holdings of the company. Copia Wealth Management acquired a new position in Adobe in the fourth quarter valued at $28,000. SWAN Capital LLC acquired a new position in Adobe in the fourth quarter valued at $28,000. 1248 Management LLC bought a new stake in Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter valued at $26,000. Finally, Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter valued at $29,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.3%

NASDAQ:ADBE opened at $349.36 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $357.32 and a 200-day moving average of $379.37. The company has a market cap of $148.20 billion, a PE ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm posted $4.65 EPS. The firm’s quarterly revenue 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. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Robert W. Baird lifted their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $435.63.

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.