Destiny Wealth Partners LLC Buys New Stake in Adobe Inc. $ADBE

Destiny Wealth Partners LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 567 shares of the software company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Copia Wealth Management purchased a new position in shares of Adobe in the fourth quarter valued at $28,000. 1248 Management LLC bought a new stake in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter worth $29,000. Finally, HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter worth $30,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Robert W. Baird raised 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. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Redburn Partners set a $280.00 price target on Adobe in a research report on Monday, September 1st. Finally, TD Cowen decreased their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

ADBE stock opened at $354.16 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The business has a 50-day moving average price of $355.36 and a 200 day moving average price of $374.59. The company has a market capitalization of $150.23 billion, a P/E ratio of 22.07, a PEG ratio of 1.58 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last announced 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 business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $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. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.