Allworth Financial LP Boosts Stake in Adobe Inc. $ADBE

Allworth Financial LP raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 38.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,108 shares of the software company’s stock after acquiring an additional 3,614 shares during the period. Allworth Financial LP’s holdings in Adobe were worth $5,071,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after acquiring an additional 126,688 shares during the last quarter. Amundi boosted its position in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Adobe by 6.8% in the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock valued at $1,432,680,000 after acquiring an additional 238,542 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.3%

NASDAQ ADBE opened at $333.22 on Wednesday. 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 market cap of $139.49 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.51 and a beta of 1.47. The firm has a 50 day simple moving average of $347.41 and a 200-day simple moving average of $367.86. Adobe Inc. has a one year low of $323.03 and a one year high of $557.90.

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 the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for 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 company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Melius lowered 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. Oppenheimer dropped their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Citigroup reduced their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $433.41.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Company 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.