Highland Capital Management LLC Acquires 1,076 Shares of Adobe Inc. $ADBE

Key Points

• Highland Capital Management LLC increased its stake in Adobe by 13.3% in the second quarter, holding a total of 9,156 shares valued at approximately $3.54 million.
• Adobe Inc. reported a 10.7% increase in revenue year-over-year, with earnings of $5.31 EPS, surpassing analysts' expectations.
• The stock price for Adobe was down 1.3%, with current analysts' ratings ranging from "Strong Buy" to "Sell," reflecting varied market sentiment.

Highland Capital Management LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,156 shares of the software company's stock after acquiring an additional 1,076 shares during the quarter. Highland Capital Management LLC's holdings in Adobe were worth $3,542,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe in the 1st quarter valued at about $34,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 1.3%

ADBE stock opened at $346.74 on Friday. The company has a market cap of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The business has a 50-day simple moving average of $353.22 and a 200 day simple moving average of $372.26. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The business 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%.Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADBE shares. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a report on Wednesday, July 2nd. Piper Sandler reduced their price objective on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. DA Davidson reaffirmed a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Finally, Citigroup reduced their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $433.41.

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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