Adobe Inc. $ADBE Shares Bought by Exchange Capital Management Inc.

Exchange Capital Management Inc. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 26.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,294 shares of the software company’s stock after purchasing an additional 1,928 shares during the period. Exchange Capital Management Inc.’s holdings in Adobe were worth $3,595,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Schmidt P J Investment Management Inc. lifted its position in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. lifted its holdings in shares of Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after buying an additional 26 shares during the period. Ted Buchan & Co boosted its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC grew its holdings in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. raised its position in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADBE shares. Evercore ISI lowered their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Finally, Barclays boosted their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

ADBE opened at $351.48 on Friday. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company’s 50 day simple moving average is $353.70 and its 200 day simple moving average is $372.68. The stock has a market capitalization of $147.13 billion, a PE ratio of 21.90, a P/E/G ratio of 1.54 and a beta of 1.49. 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 announced its quarterly earnings data 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. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.