Wealthspire Advisors LLC Boosts Stock Position in Adobe Inc. $ADBE

Wealthspire Advisors LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,163 shares of the software company’s stock after acquiring an additional 284 shares during the quarter. Wealthspire Advisors LLC’s holdings in Adobe were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 1248 Management LLC purchased a new stake in Adobe during the first quarter worth about $25,000. LSV Asset Management grew its position in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after acquiring an additional 56 shares during the period. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $30,000. Finally, Nexus Investment Management ULC purchased a new position in Adobe in the second quarter valued at approximately $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 1.8%

Shares of NASDAQ:ADBE opened at $312.40 on Friday. The firm has a fifty day moving average price of $343.95 and a two-hundred day moving average price of $365.61. The company has a market cap of $130.77 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a one year low of $312.09 and a one year high of $557.90.

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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $4.65 earnings per share. The firm’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. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred 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 approximately $1,157,576.88. This represents 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 accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barclays set a $465.00 price objective on shares of Adobe and gave the company an “overweight” rating in a report on Wednesday, October 29th. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Finally, Royal Bank Of Canada lowered 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 investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $428.96.

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.