Perigon Wealth Management LLC Has $4.21 Million Holdings in Adobe Inc. $ADBE

Perigon Wealth Management LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,890 shares of the software company’s stock after selling 291 shares during the quarter. Perigon Wealth Management LLC’s holdings in Adobe were worth $4,213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Garde Capital Inc. purchased a new stake in shares of Adobe during the 1st quarter worth about $34,000. PFG Advisors raised its stake in shares of Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its stake in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of Adobe during the 1st quarter worth about $305,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 0.3%

ADBE opened at $354.16 on Friday. The business has a 50 day moving average price of $355.36 and a 200 day moving average price of $374.59. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market cap of $150.23 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $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 forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ADBE shares. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. Stifel Nicolaus cut their price target on 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 reaffirmed an “overweight” rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Bank of America boosted their target price on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Finally, Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $450.00 in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe 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.