Sandy Cove Advisors LLC Has $286,000 Stake in Adobe Inc. $ADBE

Sandy Cove Advisors LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.4% in the 2nd quarter, Holdings Channel reports. The fund owned 739 shares of the software company’s stock after buying an additional 51 shares during the period. Sandy Cove Advisors LLC’s holdings in Adobe were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ADBE. GAMMA Investing LLC raised its stake in Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC acquired a new position in shares of Adobe in the first quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi increased its stake in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADBE. Evercore ISI lowered their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada lowered their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. BMO Capital Markets lowered their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer reduced their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Finally, Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $435.63.

Adobe Stock Performance

NASDAQ:ADBE opened at $347.10 on Tuesday. The company has a market capitalization of $147.24 billion, a PE ratio of 21.63, a P/E/G ratio of 1.65 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a 50 day simple moving average of $356.72 and a two-hundred day simple moving average of $378.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business 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. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.