PFG Advisors Has $2.36 Million Stock Position in Adobe Inc. $ADBE

PFG Advisors boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 23.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,104 shares of the software company’s stock after buying an additional 1,140 shares during the quarter. PFG Advisors’ holdings in Adobe were worth $2,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADBE. Lathrop Investment Management Co. lifted its position in shares of Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after buying an additional 718 shares during the last quarter. Mcdaniel Terry & Co. raised its stake in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in shares of Adobe in the second quarter worth about $328,000. Koss Olinger Consulting LLC bought a new position in shares of Adobe in the first quarter worth about $305,000. Finally, Bourgeon Capital Management LLC boosted its stake in shares of Adobe by 41.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after purchasing an additional 7,176 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Oppenheimer dropped their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of Adobe stock opened at $326.95 on Monday. The stock has a market cap of $136.86 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a twelve month low of $323.03 and a twelve month high of $557.90. The company’s fifty day moving average is $348.22 and its 200 day moving average is $368.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company earned $4.65 EPS. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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 forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

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.