Symmetry Partners LLC Purchases Shares of 631 Adobe Inc. $ADBE

Symmetry Partners LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel reports. The fund bought 631 shares of the software company’s stock, valued at approximately $244,000.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Brighton Jones LLC grew its holdings in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares in the last quarter. Siemens Fonds Invest GmbH grew its stake in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. Summit Global Investments raised its holdings in shares of Adobe by 530.5% in the first quarter. Summit Global Investments now owns 2,995 shares of the software company’s stock valued at $1,149,000 after purchasing an additional 2,520 shares during the last quarter. Welch Group LLC bought a new position in shares of Adobe during the first quarter valued at about $209,000. Finally, Rothschild Investment LLC grew its position in Adobe by 94.3% in the 1st quarter. Rothschild Investment LLC now owns 2,129 shares of the software company’s stock worth $817,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADBE. Bank of America upped their target price on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Stifel Nicolaus decreased their price objective on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Finally, Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Up 1.8%

Shares of NASDAQ ADBE opened at $360.37 on Friday. The stock has a market capitalization of $150.85 billion, a P/E ratio of 22.45, a PEG ratio of 1.62 and a beta of 1.48. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The firm’s 50 day simple moving average is $355.25 and its two-hundred day simple moving average is $373.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company 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 earnings per share. The firm’s revenue for the quarter 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.