Adobe Inc. $ADBE Shares Bought by Leelyn Smith LLC

Leelyn Smith LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,064 shares of the software company’s stock after purchasing an additional 650 shares during the quarter. Leelyn Smith LLC’s holdings in Adobe were worth $4,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the 1st quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the 1st quarter valued at about $30,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Adobe during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 0.2%

ADBE stock opened at $353.52 on Friday. The firm has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.59 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50 day moving average price is $351.71 and its 200 day moving average price is $368.72.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Evercore ISI decreased their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Finally, Citigroup decreased their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock 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.