Adobe Inc. $ADBE Shares Acquired by First Pacific Financial

First Pacific Financial grew its stake in Adobe Inc. (NASDAQ:ADBE) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,835 shares of the software company’s stock after buying an additional 392 shares during the period. First Pacific Financial’s holdings in Adobe were worth $1,097,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1248 Management LLC acquired a new position in Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the first quarter valued at approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe in the first quarter worth about $34,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. BMO Capital Markets cut their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

Shares of ADBE opened at $352.75 on Wednesday. The company has a market capitalization of $147.66 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The firm has a 50-day simple moving average of $354.68 and a 200-day simple moving average of $373.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the firm posted $4.65 EPS. 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. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.