Sunpointe LLC Increases Position in Adobe Inc. $ADBE

Sunpointe LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 90.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213 shares of the software company’s stock after buying an additional 575 shares during the quarter. Sunpointe LLC’s holdings in Adobe were worth $469,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ADBE. Brighton Jones LLC grew its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock valued at $12,882,000 after purchasing an additional 756 shares during the last quarter. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Adobe by 2.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 9,460 shares of the software company’s stock valued at $4,207,000 after purchasing an additional 238 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its holdings in Adobe by 6.8% in the fourth quarter. Vivaldi Capital Management LP now owns 551 shares of the software company’s stock valued at $242,000 after purchasing an additional 35 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on ADBE shares. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. BMO Capital Markets lowered their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. TD Cowen lowered their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, UBS Group lowered their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Adobe Stock Up 1.6%

ADBE stock opened at $352.73 on Wednesday. The company has a market cap of $149.63 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.57 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a 50-day moving average of $356.13 and a two-hundred day moving average of $378.15.

Adobe (NASDAQ:ADBE) last released 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. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm 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, analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.