Bragg Financial Advisors Inc Buys 1,865 Shares of Adobe Inc. $ADBE

Key Points

• Bragg Financial Advisors Inc increased its holdings in Adobe Inc. by 8.1%, acquiring an additional 1,865 shares for a total valuation of $9.51 million at the end of the reporting period.
• A number of institutional investors, including Norinchukin Bank and Kaufman Rossin Wealth LLC, significantly increased their stakes in Adobe, indicating strong institutional interest in the stock.
• Adobe reported $5.06 earnings per share for the quarter, exceeding estimates and demonstrating a 10.6% increase in revenue compared to the same quarter last year.

Bragg Financial Advisors Inc grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,792 shares of the software company's stock after purchasing an additional 1,865 shares during the quarter. Bragg Financial Advisors Inc's holdings in Adobe were worth $9,509,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADBE. Norinchukin Bank The increased its stake in Adobe by 41.2% in the 1st quarter. Norinchukin Bank The now owns 40,183 shares of the software company's stock worth $15,411,000 after acquiring an additional 11,734 shares during the last quarter. CW Advisors LLC increased its holdings in Adobe by 37.8% during the 1st quarter. CW Advisors LLC now owns 9,825 shares of the software company's stock valued at $3,774,000 after purchasing an additional 2,697 shares during the period. Summit Financial LLC increased its holdings in Adobe by 13.2% during the 1st quarter. Summit Financial LLC now owns 5,251 shares of the software company's stock valued at $2,014,000 after purchasing an additional 613 shares during the period. Martin Investment Management LLC increased its holdings in Adobe by 28.7% during the 1st quarter. Martin Investment Management LLC now owns 14,161 shares of the software company's stock valued at $5,431,000 after purchasing an additional 3,158 shares during the period. Finally, Kaufman Rossin Wealth LLC increased its holdings in Adobe by 348.7% during the 1st quarter. Kaufman Rossin Wealth LLC now owns 5,802 shares of the software company's stock valued at $2,225,000 after purchasing an additional 4,509 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Mizuho cut their price objective on Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Price Performance

ADBE stock opened at $353.43 on Thursday. The firm has a 50 day moving average price of $368.37 and a 200-day moving average price of $391.09. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $587.75. The firm has a market capitalization of $149.93 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.71 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.48 earnings per share. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.