Empirical Asset Management LLC Increases Stake in Adobe Inc. $ADBE

Empirical Asset Management LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 26.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,453 shares of the software company’s stock after buying an additional 514 shares during the period. Empirical Asset Management LLC’s holdings in Adobe were worth $949,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the 1st quarter worth approximately $30,000. Finally, Nexus Investment Management ULC acquired a new position in Adobe during the 2nd quarter worth approximately $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the subject of several analyst reports. Barclays boosted their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Trading Down 0.4%

Shares of Adobe stock opened at $329.23 on Friday. The company has a fifty day simple moving average of $351.14 and a 200-day simple moving average of $369.21. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $137.82 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.48 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its earnings results 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The company’s revenue for the quarter 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 analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.