Tritonpoint Wealth LLC Has $3.67 Million Holdings in Adobe Inc. $ADBE

Tritonpoint Wealth LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,497 shares of the software company’s stock after selling 462 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Adobe were worth $3,674,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Avior Wealth Management LLC lifted its holdings in shares of Adobe by 62.7% during the second quarter. Avior Wealth Management LLC now owns 1,928 shares of the software company’s stock valued at $746,000 after purchasing an additional 743 shares in the last quarter. RBA Wealth Management LLC raised its stake in Adobe by 1.9% in the second quarter. RBA Wealth Management LLC now owns 11,547 shares of the software company’s stock valued at $4,467,000 after buying an additional 210 shares in the last quarter. SC&H Financial Advisors Inc. boosted its holdings in Adobe by 3.5% in the 2nd quarter. SC&H Financial Advisors Inc. now owns 940 shares of the software company’s stock valued at $364,000 after purchasing an additional 32 shares in the last quarter. Sage Rhino Capital LLC acquired a new position in shares of Adobe during the 2nd quarter worth approximately $205,000. Finally, LVW Advisors LLC boosted its position in Adobe by 6.5% during the 2nd quarter. LVW Advisors LLC now owns 1,293 shares of the software company’s stock worth $500,000 after purchasing an additional 79 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Citigroup dropped their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. UBS Group dropped their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Finally, Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Up 1.8%

Adobe stock opened at $360.37 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $150.85 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The firm’s fifty day moving average price is $355.25 and its two-hundred day moving average price is $373.63.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 company had revenue of $5.99 billion for 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 revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.