Freestone Capital Holdings LLC Has $8.20 Million Stock Holdings in Adobe Inc. $ADBE

Freestone Capital Holdings LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,183 shares of the software company’s stock after selling 1,616 shares during the period. Freestone Capital Holdings LLC’s holdings in Adobe were worth $8,195,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. PFG Advisors boosted its stake in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the period. Lathrop Investment Management Co. raised its holdings in shares of Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after acquiring an additional 718 shares in the last quarter. Mcdaniel Terry & Co. raised its holdings in shares of Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Financial Counselors Inc. boosted its position 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 valued at $24,105,000 after acquiring an additional 5,298 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC purchased a new position in shares of Adobe during the second quarter worth about $328,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $340.31 on Monday. 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 Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The firm has a market cap of $142.45 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The business has a 50 day moving average price of $350.67 and a 200-day moving average price of $368.89.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period 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 research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on ADBE. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley lowered 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 report on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus price target of $433.41.

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.