Hobart Private Capital LLC Acquires 1,596 Shares of Adobe Inc. $ADBE

Hobart Private Capital LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 137.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,760 shares of the software company’s stock after purchasing an additional 1,596 shares during the period. Hobart Private Capital LLC’s holdings in Adobe were worth $1,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC raised its stake in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC raised its stake in Adobe by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after acquiring an additional 1,422 shares during the period. Moran Wealth Management LLC raised its stake in Adobe by 6.5% in the 1st quarter. Moran Wealth Management LLC now owns 1,402 shares of the software company’s stock valued at $538,000 after acquiring an additional 86 shares during the period. Global Assets Advisory LLC bought a new stake in Adobe in the 1st quarter valued at about $217,000. Finally, Golden State Equity Partners raised its stake in Adobe by 3.1% in the 1st quarter. Golden State Equity Partners now owns 1,065 shares of the software company’s stock valued at $408,000 after acquiring an additional 32 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADBE. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. TD Cowen decreased their price target on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Finally, Citigroup decreased their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.2%

Shares of NASDAQ ADBE opened at $353.52 on Friday. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90. 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 firm has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.59 and a beta of 1.49. The business has a 50-day moving average of $351.71 and a 200-day moving average of $368.72.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.