Adobe Inc. $ADBE Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 85.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,840 shares of the software company’s stock after purchasing an additional 2,229 shares during the period. Simplicity Wealth LLC’s holdings in Adobe were worth $1,872,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ADBE. 1248 Management LLC acquired a new stake in shares of Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the first quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 1.3%

NASDAQ:ADBE opened at $346.74 on Monday. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $353.22 and a 200-day simple moving average of $372.14. The company has a market capitalization of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. The firm’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. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Bank of America increased their price objective on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada lowered their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average target price 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.