Allspring Global Investments Holdings LLC Has $70.41 Million Position in Adobe Inc. $ADBE

Allspring Global Investments Holdings LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 179,569 shares of the software company’s stock after purchasing an additional 20,055 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Adobe were worth $70,409,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in Adobe during the 1st quarter worth $34,000. PFG Advisors boosted its holdings in Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after acquiring an additional 855 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after acquiring an additional 730 shares during the last quarter. Financial Counselors Inc. boosted its holdings in Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after acquiring an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe during the 1st quarter worth $305,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of analyst reports. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. DA Davidson reiterated a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Piper Sandler lowered their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Evercore ISI lowered their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Finally, BMO Capital Markets lowered their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock 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 given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

NASDAQ ADBE opened at $339.32 on Tuesday. The company has a market cap of $142.04 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $351.68 and its two-hundred day simple moving average is $370.09.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.