Creative Planning Has $53.35 Million Stock Position in Adobe Inc. $ADBE

Creative Planning lifted its position in Adobe Inc. (NASDAQ:ADBE) by 1.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 137,884 shares of the software company’s stock after buying an additional 2,040 shares during the period. Creative Planning’s holdings in Adobe were worth $53,345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter valued at about $25,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the first quarter valued at approximately $30,000. Nexus Investment Management ULC bought a new stake in Adobe in the 2nd quarter valued at $31,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its stake in Adobe by 44.9% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after purchasing an additional 31 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.7%

Shares of NASDAQ:ADBE opened at $331.11 on Friday. Adobe Inc. has a 52-week low of $323.03 and a 52-week 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. The company has a market capitalization of $138.60 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a 50-day simple moving average of $346.61 and a 200 day simple moving average of $367.12.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The business’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 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADBE. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Cowen restated a “hold” rating on shares of Adobe in a report on Wednesday, October 29th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Finally, Royal Bank Of Canada cut their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. One 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 company. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $433.41.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.