Elevate Capital Advisors LLC Purchases New Shares in Adobe Inc. $ADBE

Elevate Capital Advisors LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 5,174 shares of the software company’s stock, valued at approximately $2,002,000.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Adobe by 68.3% in the 1st 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 bought a new position in shares of Adobe in the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi lifted its position in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. Wells Fargo & Company restated an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada reduced their price target 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 investment 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. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 1.3%

Adobe stock opened at $346.74 on Friday. The stock has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49. 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’s 50-day moving average price is $353.22 and its two-hundred day moving average price is $372.37. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last 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. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company 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.