Principle Wealth Partners LLC Has $992,000 Stock Position in Adobe Inc. $ADBE

Principle Wealth Partners LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,565 shares of the software company’s stock after purchasing an additional 72 shares during the period. Principle Wealth Partners LLC’s holdings in Adobe were worth $992,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in Adobe during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the first quarter worth approximately $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe during the first quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe during the first quarter worth approximately $30,000. Finally, Nexus Investment Management ULC acquired a new stake in Adobe during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $354.12 on Friday. The firm has a market cap of $148.23 billion, a PE ratio of 22.06, a PEG ratio of 1.59 and a beta of 1.49. The stock’s fifty day moving average price is $351.74 and its two-hundred day moving average price is $368.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business 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. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

ADBE has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. TD Cowen reduced their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and reduced their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.