Zullo Investment Group Inc. Grows Stake in Adobe Inc. $ADBE

Zullo Investment Group Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 892 shares of the software company’s stock after purchasing an additional 36 shares during the quarter. Zullo Investment Group Inc.’s holdings in Adobe were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the 1st quarter worth $26,000. Flaharty Asset Management LLC purchased a new position in Adobe during the 1st quarter worth $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe during the 1st quarter worth $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter valued at $34,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 2.9%

Adobe stock opened at $337.51 on Friday. 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 stock has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.56 and a beta of 1.49. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The business has a fifty day moving average price of $351.67 and a 200-day moving average price of $370.78.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm earned $4.65 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Bank of America lifted their price target on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. Robert W. Baird lifted their price target on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

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.