Evergreen Private Wealth LLC Purchases 1,972 Shares of Adobe Inc. $ADBE

Evergreen Private Wealth LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 16.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,003 shares of the software company’s stock after purchasing an additional 1,972 shares during the period. Adobe comprises 2.3% of Evergreen Private Wealth LLC’s holdings, making the stock its 16th biggest holding. Evergreen Private Wealth LLC’s holdings in Adobe were worth $5,417,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADBE. Brighton Jones LLC grew its holdings in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Siemens Fonds Invest GmbH boosted its position in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in Adobe in the 4th quarter valued at about $64,000. Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at about $28,000. Finally, Centaurus Financial Inc. boosted its position in Adobe by 34.8% in the 4th quarter. Centaurus Financial Inc. now owns 3,613 shares of the software company’s stock valued at $1,606,000 after buying an additional 932 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of ADBE opened at $354.16 on Friday. The company has a 50 day moving average price of $355.36 and a 200-day moving average price of $374.59. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The stock has a market capitalization of $150.23 billion, a PE ratio of 22.07, a PEG ratio of 1.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The company’s revenue 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. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. TD Cowen lowered their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Mizuho lowered their price objective on shares of Adobe from $530.00 to $460.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.