Greenwood Gearhart Inc. Makes New $986,000 Investment in Adobe Inc. $ADBE

Key Points

• Greenwood Gearhart Inc. has made a new investment in Adobe Inc., purchasing 2,549 shares valued at approximately $986,000.
• Several institutional investors have increased their positions in Adobe, with ownership by institutional investors reaching 81.79% of the company's shares.
• Adobe reported strong earnings for the quarter, posting $5.31 EPS and revenues of $5.99 billion, which exceeded analysts' expectations.

Greenwood Gearhart Inc. purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,549 shares of the software company's stock, valued at approximately $986,000.

Several other institutional investors have also recently made changes to their positions in ADBE. Brighton Jones LLC increased its position in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Adobe by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock worth $2,991,000 after purchasing an additional 1,422 shares during the last quarter. Rockland Trust Co. increased its position in shares of Adobe by 27.7% during the 1st quarter. Rockland Trust Co. now owns 1,760 shares of the software company's stock worth $675,000 after purchasing an additional 382 shares during the last quarter. RFG Holdings Inc. increased its holdings in shares of Adobe by 25.2% during the 1st quarter. RFG Holdings Inc. now owns 1,796 shares of the software company's stock worth $689,000 after acquiring an additional 362 shares during the last quarter. Finally, GraniteShares Advisors LLC increased its holdings in shares of Adobe by 4.3% during the 1st quarter. GraniteShares Advisors LLC now owns 3,323 shares of the software company's stock worth $1,274,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and decreased their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday, September 12th. Morgan Stanley lowered Adobe from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Stock Performance

ADBE opened at $337.51 on Friday. The business has a fifty day simple moving average of $351.67 and a 200 day simple moving average of $370.78. The company has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. 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 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.

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