Valley National Advisers Inc. Purchases 583 Shares of Adobe Inc. $ADBE

Valley National Advisers Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 90.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,225 shares of the software company’s stock after buying an additional 583 shares during the quarter. Valley National Advisers Inc.’s holdings in Adobe were worth $474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. PUREfi Wealth LLC lifted its position in shares of Adobe by 27.4% during the second quarter. PUREfi Wealth LLC now owns 2,029 shares of the software company’s stock worth $785,000 after purchasing an additional 436 shares during the last quarter. Plimoth Trust Co. LLC increased its stake in Adobe by 6.0% in the 2nd quarter. Plimoth Trust Co. LLC now owns 8,713 shares of the software company’s stock worth $3,371,000 after buying an additional 495 shares during the period. DAVENPORT & Co LLC boosted its position in Adobe by 0.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 366,355 shares of the software company’s stock valued at $141,638,000 after buying an additional 1,911 shares during the period. Global Assets Advisory LLC boosted its position in Adobe by 222.5% in the 2nd quarter. Global Assets Advisory LLC now owns 1,922 shares of the software company’s stock valued at $754,000 after buying an additional 1,326 shares during the period. Finally, Grimes & Company Inc. grew its stake in Adobe by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 41,387 shares of the software company’s stock worth $16,012,000 after acquiring an additional 382 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $350.14 on Tuesday. The company has a market capitalization of $146.57 billion, a PE ratio of 21.82, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a 50-day simple moving average of $352.83 and a two-hundred day simple moving average of $371.88. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period last 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ADBE shares. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. TD Cowen lowered their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. BMO Capital Markets dropped their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Wells Fargo & Company restated an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, Rothschild & Co Redburn cut 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.