Resonant Capital Advisors LLC Acquires 3,574 Shares of Adobe Inc. $ADBE

Resonant Capital Advisors LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 80.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,030 shares of the software company’s stock after purchasing an additional 3,574 shares during the period. Resonant Capital Advisors LLC’s holdings in Adobe were worth $3,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the first quarter valued at approximately $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe in the first quarter worth about $30,000. Finally, Nexus Investment Management ULC bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $353.52 on Friday. The stock has a 50-day simple moving average of $351.71 and a 200 day simple moving average of $368.92. The stock has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.58 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company’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, research analysts anticipate 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 several analyst reports. DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a report on Wednesday, July 2nd. UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Finally, Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average target price of $433.41.

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.