Bourgeon Capital Management LLC Buys 7,176 Shares of Adobe Inc. $ADBE

Key Points

• Bourgeon Capital Management LLC increased its holdings in Adobe Inc. by 41.0% during the second quarter, acquiring an additional 7,176 shares to own a total of 24,680 shares, valued at approximately $9.5 million.
• Adobe reported earnings of $5.31 per share for the last quarter, surpassing analysts' expectations of $5.18, with revenue of $5.99 billion, marking a 10.7% increase year-over-year.
• Currently, 81.79% of Adobe's stock is held by institutional investors, and the average analyst rating for the stock is "Hold", with a target price of $433.41.

Bourgeon Capital Management LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 41.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,680 shares of the software company's stock after purchasing an additional 7,176 shares during the period. Adobe accounts for approximately 1.9% of Bourgeon Capital Management LLC's holdings, making the stock its 25th biggest holding. Bourgeon Capital Management LLC's holdings in Adobe were worth $9,548,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ADBE. 1248 Management LLC acquired a new position in Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the 1st quarter valued at about $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. bought a new position in Adobe during the 1st quarter worth approximately $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $359.42 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a market capitalization of $150.45 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The company's 50 day moving average price is $355.08 and its two-hundred day moving average price is $373.36.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the company earned $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. On average, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Evercore ISI dropped their target price on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $433.41.

Adobe Company 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.

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