RFG Advisory LLC Boosts Stock Position in Adobe Inc. $ADBE

RFG Advisory LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 146.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,648 shares of the software company’s stock after purchasing an additional 3,946 shares during the period. RFG Advisory LLC’s holdings in Adobe were worth $2,572,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have recently commented on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. 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 company. According to MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $335.94 on Wednesday. The stock’s 50-day simple moving average is $351.63 and its 200 day simple moving average is $369.85. The stock has a market capitalization of $140.62 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. 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 52-week low of $330.04 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $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. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.