Ritholtz Wealth Management Acquires 562 Shares of Adobe Inc. $ADBE

Ritholtz Wealth Management raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,123 shares of the software company’s stock after purchasing an additional 562 shares during the period. Ritholtz Wealth Management’s holdings in Adobe were worth $6,625,000 at the end of the most recent quarter.

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

Adobe Price Performance

NASDAQ ADBE opened at $335.94 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The stock has a market cap of $140.62 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.52 and a beta of 1.49. The company’s 50 day moving average is $351.63 and its two-hundred day moving average is $369.85.

Adobe (NASDAQ:ADBE) last announced 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm 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 company posted $4.65 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Barclays upped their price objective on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Finally, DA Davidson restated a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.