Turtle Creek Wealth Advisors LLC Takes $756,000 Position in Adobe Inc. $ADBE

Turtle Creek Wealth Advisors LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,955 shares of the software company’s stock, valued at approximately $756,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter valued at $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe during the second quarter valued at $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

NASDAQ:ADBE opened at $329.23 on Friday. The firm has a market capitalization of $137.82 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.48 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The stock has a fifty day moving average of $351.14 and a 200 day moving average of $369.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $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. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on ADBE. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. BMO Capital Markets dropped their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $433.41.

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.