Adobe Inc. $ADBE Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,026 shares of the software company’s stock after purchasing an additional 270 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Adobe were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADBE. 1248 Management LLC acquired a new stake in Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC purchased a new position in Adobe during the second quarter worth approximately $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 4.1%

Shares of ADBE stock opened at $357.55 on Wednesday. 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 has a market cap of $149.67 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The company has a 50-day moving average of $351.57 and a two-hundred day moving average of $368.64. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (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 the consensus estimate of $5.91 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s 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. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Evercore ISI dropped their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. UBS Group cut their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays increased their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus price target of $433.41.

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.