Harvest Portfolios Group Inc. Acquires 4,809 Shares of Adobe Inc. $ADBE

Key Points

• Harvest Portfolios Group Inc. increased its stake in Adobe Inc. by 9.4%, acquiring an additional 4,809 shares, bringing its total holdings to 55,807 shares worth approximately $21.4 million.
• Adobe's quarterly earnings report revealed earnings per share of $5.06, which exceeded analysts' expectations of $4.97, along with year-over-year revenue growth of 10.6%.
• The current consensus rating for Adobe's stock is a "Moderate Buy", with a target price of $467.58, as various analysts provide mixed ratings ranging from Strong Buy to Strong Sell.

Harvest Portfolios Group Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,807 shares of the software company's stock after acquiring an additional 4,809 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Adobe were worth $21,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in Adobe in the first quarter worth $34,000. PFG Advisors increased its holdings in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after buying an additional 855 shares in the last quarter. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares during the last quarter. Financial Counselors Inc. boosted its position in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter worth about $305,000. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Citigroup reduced their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target for the company. in a research report on Monday, August 11th. Robert W. Baird boosted their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Finally, Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and cut their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $467.58.

Adobe Stock Up 0.3%

Shares of ADBE stock opened at $363.21 on Tuesday. The stock's 50-day simple moving average is $365.80 and its 200-day simple moving average is $388.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $154.07 billion, a PE ratio of 23.24, a P/E/G ratio of 1.72 and a beta of 1.51. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company 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 analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

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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