Adobe Inc. $ADBE Shares Purchased by Heritage Investors Management Corp

Heritage Investors Management Corp increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% in the second quarter, HoldingsChannel.com reports. The firm owned 63,161 shares of the software company’s stock after acquiring an additional 3,100 shares during the quarter. Heritage Investors Management Corp’s holdings in Adobe were worth $24,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in Adobe by 13.9% in the first quarter. Koshinski Asset Management Inc. now owns 2,835 shares of the software company’s stock valued at $1,087,000 after acquiring an additional 347 shares during the last quarter. JNBA Financial Advisors lifted its position in Adobe by 360.0% in the first quarter. JNBA Financial Advisors now owns 115 shares of the software company’s stock valued at $44,000 after acquiring an additional 90 shares during the last quarter. Salomon & Ludwin LLC lifted its position in Adobe by 946.2% in the first quarter. Salomon & Ludwin LLC now owns 136 shares of the software company’s stock valued at $52,000 after acquiring an additional 123 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in Adobe by 93.4% in the first quarter. Clear Creek Financial Management LLC now owns 2,448 shares of the software company’s stock valued at $939,000 after acquiring an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Citigroup dropped their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $405.00 price target on shares of Adobe in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 6.1%

Shares of ADBE opened at $337.86 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $351.39 and its two-hundred day moving average is $368.87. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The firm has a market capitalization of $141.43 billion, a P/E ratio of 21.05, a PEG ratio of 1.61 and a beta of 1.49.

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 the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The firm’s revenue for the quarter 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. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share 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.