Argonautica Private Wealth Management Inc. Purchases 637 Shares of Adobe Inc. $ADBE

Argonautica Private Wealth Management Inc. raised its position in Adobe Inc. (NASDAQ:ADBE) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,645 shares of the software company’s stock after purchasing an additional 637 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Adobe were worth $2,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Adobe by 0.4% in the first 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 during the period. Bank of New York Mellon Corp increased its stake in shares of Adobe by 14.4% in the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Adobe by 2.4% in the first 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 buying an additional 126,688 shares during the period. Amundi increased its stake in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% in 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 during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 4.1%

Shares of ADBE stock opened at $357.55 on Wednesday. The company has a market cap of $149.67 billion, a P/E ratio of 22.28, a PEG ratio of 1.54 and a beta of 1.49. The stock has a 50 day simple moving average of $351.57 and a two-hundred day simple moving average of $368.64. 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 Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its 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 business 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 firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous 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. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent research reports. Piper Sandler decreased their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. Barclays increased their price target on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and an average price target 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.