Adobe Inc. $ADBE Shares Bought by waypoint wealth counsel

waypoint wealth counsel grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 79.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,010 shares of the software company’s stock after acquiring an additional 447 shares during the period. waypoint wealth counsel’s holdings in Adobe were worth $391,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC purchased a new stake in Adobe during the first quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares in the last quarter. Finally, Amundi lifted its position in shares of 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 in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ADBE. Citigroup reduced their price target 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. Barclays increased their target price on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a report on Friday, September 12th. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Finally, Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 2.9%

ADBE opened at $337.51 on Friday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The business has a 50-day moving average of $351.67 and a 200-day moving average of $370.59. 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 company has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during 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 business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last 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 forecast that Adobe Inc. will post 16.65 EPS for the current fiscal 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.