Schnieders Capital Management LLC Increases Stock Position in Adobe Inc. $ADBE

Schnieders Capital Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,630 shares of the software company’s stock after buying an additional 190 shares during the quarter. Schnieders Capital Management LLC’s holdings in Adobe were worth $1,017,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the first quarter worth $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the first quarter worth $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe during the first quarter worth $30,000. Finally, Nexus Investment Management ULC purchased a new stake in Adobe during the second quarter worth $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 1.2%

ADBE stock opened at $333.26 on Monday. The company has a market cap of $139.50 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.49 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 Inc. has a 12 month low of $327.50 and a 12 month high of $557.90. The firm has a 50-day moving average of $350.99 and a two-hundred day moving average of $368.76.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during 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%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 EPS. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several recent analyst reports. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and decreased their price objective for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. DA Davidson reaffirmed a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Citigroup decreased their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, BMO Capital Markets decreased their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One 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’s stock. According to MarketBeat, Adobe has an average rating of “Hold” and an average price target of $433.41.

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.