TD Asset Management Inc Purchases 53,835 Shares of Adobe Inc. $ADBE

TD Asset Management Inc grew its position in Adobe Inc. (NASDAQ:ADBE) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 630,304 shares of the software company’s stock after purchasing an additional 53,835 shares during the quarter. TD Asset Management Inc owned about 0.15% of Adobe worth $243,852,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in Adobe by 146.0% during the 2nd quarter. RFG Advisory LLC now owns 6,648 shares of the software company’s stock worth $2,572,000 after purchasing an additional 3,946 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Adobe by 17.0% in the second quarter. Axxcess Wealth Management LLC now owns 4,398 shares of the software company’s stock valued at $1,701,000 after acquiring an additional 639 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of Adobe by 8.7% in the second quarter. Moran Wealth Management LLC now owns 1,524 shares of the software company’s stock valued at $590,000 after acquiring an additional 122 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Adobe by 20.7% in the second quarter. Verdence Capital Advisors LLC now owns 4,862 shares of the software company’s stock valued at $1,881,000 after acquiring an additional 833 shares in the last quarter. Finally, Wealth Architects LLC grew its stake in shares of Adobe by 9.8% in the second quarter. Wealth Architects LLC now owns 1,096 shares of the software company’s stock valued at $424,000 after acquiring an additional 98 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Up 0.5%

Shares of Adobe stock opened at $339.32 on Tuesday. The company has a market capitalization of $142.04 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm’s 50-day moving average price is $351.68 and its two-hundred day moving average price is $370.09.

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, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $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, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ADBE shares. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Barclays upped their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target on the stock. in a research note on Wednesday, July 2nd. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently 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.