Mayflower Financial Advisors LLC Has $1.08 Million Position in Adobe Inc. $ADBE

Mayflower Financial Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,787 shares of the software company’s stock after buying an additional 86 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Adobe were worth $1,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Assenagon Asset Management S.A. lifted its holdings in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC acquired a new position in Adobe during the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi lifted its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Sunday. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a research note on Wednesday. Finally, Evercore ISI dropped their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 6.1%

NASDAQ ADBE opened at $337.86 on Thursday. The company has a market cap of $141.43 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.61 and a beta of 1.49. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The business has a 50 day moving average price of $351.39 and a 200-day moving average price of $368.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company 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. As a group, equities analysts expect 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.