Private Wealth Asset Management LLC Buys 337 Shares of Adobe Inc. $ADBE

Private Wealth Asset Management LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 27.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,569 shares of the software company’s stock after acquiring an additional 337 shares during the quarter. Private Wealth Asset Management LLC’s holdings in Adobe were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADBE. Brighton Jones LLC increased its stake in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC increased its stake in Adobe by 22.3% in the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after acquiring an additional 1,422 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Adobe by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company’s stock valued at $44,283,000 after acquiring an additional 4,306 shares during the period. Sound Income Strategies LLC increased its stake in Adobe by 17.6% in the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company’s stock valued at $118,000 after acquiring an additional 46 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its stake in Adobe by 2.9% in the first quarter. Cyndeo Wealth Partners LLC now owns 7,764 shares of the software company’s stock valued at $2,978,000 after acquiring an additional 216 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ADBE. Evercore ISI lowered their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and decreased their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Price Performance

Shares of ADBE stock opened at $335.94 on Wednesday. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm’s 50 day moving average is $351.63 and its 200-day moving average is $369.85. The firm has a market capitalization of $140.62 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.52 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business earned $4.65 earnings per share. Adobe’s quarterly 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. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal 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.