Global Assets Advisory LLC Boosts Position in Adobe Inc. $ADBE

Global Assets Advisory LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 222.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,922 shares of the software company’s stock after purchasing an additional 1,326 shares during the period. Global Assets Advisory LLC’s holdings in Adobe were worth $754,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Garde Capital Inc. bought a new stake in Adobe during the 1st quarter valued at $34,000. PFG Advisors increased its stake in shares of Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the period. Krane Funds Advisors LLC grew its holdings in Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after acquiring an additional 730 shares in the last quarter. Financial Counselors Inc. increased its holdings in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after buying an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter valued at about $305,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

NASDAQ:ADBE opened at $346.74 on Monday. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The stock has a market cap of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.55 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. The stock has a 50 day moving average price of $353.22 and a 200 day moving average price of $372.14.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business earned $4.65 EPS. The firm’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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADBE shares. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research note on Friday, June 13th. Barclays raised their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. Finally, DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $433.41.

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.