Allspring Global Investments Holdings LLC Buys 20,055 Shares of Adobe Inc. $ADBE

Allspring Global Investments Holdings LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 179,569 shares of the software company’s stock after acquiring an additional 20,055 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Adobe were worth $70,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Brighton Jones LLC increased its position in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the period. GAMMA Investing LLC increased its position in shares of Adobe by 22.3% during the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after buying an additional 1,422 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Adobe by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company’s stock valued at $44,283,000 after buying an additional 4,306 shares during the period. Sound Income Strategies LLC increased its position in shares of Adobe by 17.6% during the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company’s stock valued at $118,000 after buying an additional 46 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its position in shares of Adobe by 2.9% during the first quarter. Cyndeo Wealth Partners LLC now owns 7,764 shares of the software company’s stock valued at $2,978,000 after buying an additional 216 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent analyst reports. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Finally, Robert W. Baird boosted their price objective on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Up 0.5%

Shares of NASDAQ ADBE opened at $339.32 on Tuesday. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $351.68 and its two-hundred day simple moving average is $370.09. The stock has a market capitalization of $142.04 billion, a P/E ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. The business’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. As a group, analysts expect 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.