Hobart Private Capital LLC Has $1.07 Million Holdings in Adobe Inc. $ADBE

Key Points

• Hobart Private Capital LLC increased its holdings in Adobe Inc. by 137.1% in Q2, owning 2,760 shares valued at approximately $1.07 million by the end of the quarter.
• Adobe reported earnings of $5.31 EPS for the quarter, exceeding analysts' expectations, with a revenue of $5.99 billion, a 10.7% increase year-over-year.
• As of now, 81.79% of Adobe's stock is held by institutional investors, reflecting significant confidence from large financial entities.

Hobart Private Capital LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 137.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,760 shares of the software company's stock after purchasing an additional 1,596 shares during the quarter. Hobart Private Capital LLC's holdings in Adobe were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe during the 2nd quarter worth approximately $31,000. 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 research reports. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Mizuho cut Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Finally, TD Cowen cut their target price on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. One investment 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.com, Adobe has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Price Performance

ADBE opened at $353.52 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49. The firm's fifty day moving average price is $351.71 and its two-hundred day moving average price is $368.72. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.

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