Wealthfront Advisers LLC Buys 58 Shares of Adobe Inc. $ADBE

Wealthfront Advisers LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,461 shares of the software company’s stock after acquiring an additional 58 shares during the quarter. Wealthfront Advisers LLC’s holdings in Adobe were worth $18,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. raised its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new position in Adobe in the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Amundi grew its holdings in Adobe by 24.7% during the 1st 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 period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. DA Davidson restated a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. BMO Capital Markets reduced their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $353.52 on Friday. The company has a fifty day simple moving average of $351.71 and a 200 day simple moving average of $368.92. 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 company has a market cap of $147.98 billion, a P/E ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The business’s 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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share 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.