Warren Street Wealth Advisors LLC Takes $224,000 Position in Adobe Inc. $ADBE

Warren Street Wealth Advisors LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, Holdings Channel reports. The fund bought 579 shares of the software company’s stock, valued at approximately $224,000.

Other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the 1st quarter worth about $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the 1st quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new stake in Adobe in the 1st quarter valued at about $34,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 2.6%

Shares of ADBE stock opened at $343.72 on Thursday. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a market cap of $143.88 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.58 and a beta of 1.49. 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 firm has a fifty day moving average of $354.11 and a 200-day moving average of $373.01.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company posted $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, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADBE. Stifel Nicolaus dropped their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, June 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. DA Davidson reaffirmed a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.41.

Adobe 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.