Adobe Inc. $ADBE Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,138 shares of the software company’s stock after buying an additional 214 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Adobe were worth $1,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Garde Capital Inc. acquired a new stake in shares of Adobe during the 1st quarter worth $34,000. PFG Advisors increased its holdings in shares of Adobe by 20.8% during 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 during the last quarter. Krane Funds Advisors LLC increased its holdings in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. increased its holdings in Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in Adobe in the 1st quarter valued at $305,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ADBE. UBS Group lowered their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a report on Friday, June 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Stifel Nicolaus lowered their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Saturday, September 27th. 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 company has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $346.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $353.22 and its two-hundred day moving average price is $372.37. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a market capitalization of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $4.65 earnings per share. Adobe’s revenue was up 10.7% compared to the same quarter last year. 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, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.