1858 Wealth Management LLC Has $1.08 Million Holdings in Adobe Inc. $ADBE

1858 Wealth Management LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 21.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,778 shares of the software company’s stock after buying an additional 496 shares during the quarter. 1858 Wealth Management LLC’s holdings in Adobe were worth $1,075,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Adobe by 2.4% in 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 purchasing an additional 126,688 shares in the last quarter. Amundi lifted its position in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Adobe by 68.3% in 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 purchasing an additional 1,856,544 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $337.51 on Friday. The firm has a market capitalization of $141.28 billion, a PE ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. The company’s 50-day moving average is $351.67 and its 200-day moving average is $370.59. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior 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 analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADBE. UBS Group dropped their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Finally, Robert W. Baird upped their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock 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.