Adobe Inc. $ADBE Shares Acquired by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,745 shares of the software company’s stock after purchasing an additional 378 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Adobe were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1248 Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe in the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the first quarter worth $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe during the second quarter worth $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 1.2%

Shares of NASDAQ:ADBE opened at $333.26 on Friday. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The company’s 50 day moving average is $350.99 and its two-hundred day moving average is $368.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market cap of $139.50 billion, a PE ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49.

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 business 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 business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior 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. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ADBE. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Piper Sandler cut their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Oppenheimer decreased their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.