Columbia Asset Management Purchases 305 Shares of Adobe Inc. $ADBE

Columbia Asset Management grew its position in Adobe Inc. (NASDAQ:ADBE) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,537 shares of the software company’s stock after purchasing an additional 305 shares during the period. Adobe makes up approximately 1.2% of Columbia Asset Management’s investment portfolio, making the stock its 23rd largest holding. Columbia Asset Management’s holdings in Adobe were worth $6,011,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Adobe in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the first quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the first quarter valued at about $30,000. Finally, Garde Capital Inc. acquired a new stake in shares of Adobe in the first quarter valued at about $34,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $352.75 on Wednesday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a market cap of $147.66 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.48. The business’s 50 day moving average price is $354.68 and its two-hundred day moving average price is $373.21. 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 issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Evercore ISI lowered their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.