Precision Wealth Strategies LLC Buys Shares of 821 Adobe Inc. $ADBE

Precision Wealth Strategies LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE) during the second quarter, HoldingsChannel reports. The firm purchased 821 shares of the software company’s stock, valued at approximately $318,000.

Several other large investors also recently modified their holdings of ADBE. Vanguard Group Inc. lifted its stake in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp increased its holdings in Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after buying an additional 126,688 shares during the last quarter. Amundi raised its position in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 1,856,544 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADBE. Stifel Nicolaus decreased their target price on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Robert W. Baird upped their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Citigroup reduced their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 2.6%

Shares of ADBE stock opened at $343.72 on Thursday. The stock has a market cap of $143.88 billion, a P/E ratio of 21.42, a PEG ratio of 1.58 and a beta of 1.49. The company’s fifty day simple moving average is $354.11 and its two-hundred day simple moving average is $373.01. 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 Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for 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 firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $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. Analysts predict that Adobe Inc. will post 16.65 EPS 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.