Courier Capital LLC Grows Stock Position in Adobe Inc. $ADBE

Courier Capital LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 187.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,665 shares of the software company’s stock after purchasing an additional 1,086 shares during the quarter. Courier Capital LLC’s holdings in Adobe were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new stake in Adobe in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the 1st quarter worth approximately $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. TD Cowen dropped their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. Finally, UBS Group dropped their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $433.41.

Get Our Latest Research Report on ADBE

Adobe Stock Down 1.0%

NASDAQ ADBE opened at $335.94 on Wednesday. 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 company has a market capitalization of $140.62 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.52 and a beta of 1.49. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The stock has a 50 day moving average price of $351.63 and a 200-day moving average price of $369.85.

Adobe (NASDAQ:ADBEGet Free Report) last posted its 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. 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% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. 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 predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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