Evolve Private Wealth LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,633 shares of the software company's stock, valued at approximately $745,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Western Pacific Wealth Management LP bought a new position in Adobe during the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Adobe in the third quarter valued at approximately $26,000. TrustBank acquired a new stake in Adobe in the fourth quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Adobe during the second quarter worth $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Adobe during the fourth quarter worth $31,000. Institutional investors own 81.79% of the company's stock.
Adobe Price Performance
ADBE stock opened at $276.27 on Tuesday. The stock has a 50-day moving average price of $234.01 and a two-hundred day moving average price of $244.68. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $370.86. The stock has a market cap of $109.82 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion during the quarter, compared to analysts' expectations of $6.45 billion. During the same period in the prior year, the firm earned $5.06 earnings per share. Adobe's revenue for the quarter was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Equities analysts forecast that Adobe Inc. will post 19.8 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently commented on ADBE. Piper Sandler lowered their price objective on shares of Adobe from $280.00 to $240.00 and set a "neutral" rating for the company in a research report on Friday, June 12th. Stifel Nicolaus reiterated a "hold" rating and set a $200.00 target price (down from $350.00) on shares of Adobe in a report on Friday, June 12th. Citizens Jmp reissued a "market perform" rating on shares of Adobe in a research note on Friday, June 12th. Mizuho lowered their price target on Adobe from $270.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, June 12th. Finally, CLSA assumed coverage on Adobe in a research report on Monday, July 20th. They set an "outperform" rating and a $300.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $270.96.
Check Out Our Latest Analysis on Adobe
Insiders Place Their Bets
In other Adobe news, Director David A. Ricks purchased 10,000 shares of the stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director owned 17,655 shares of the company's stock, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 416 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by company insiders.
About Adobe
(
Free Report)
Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.
The company's core offerings are organized around digital media and digital experience.
See Also
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