Bay Harbor Wealth Management LLC Grows Stock Holdings in Adobe Inc. $ADBE

Bay Harbor Wealth Management LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 63.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268 shares of the software company’s stock after buying an additional 104 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Adobe were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Talbot Financial LLC grew its stake in Adobe by 26.0% in the 2nd quarter. Talbot Financial LLC now owns 46,157 shares of the software company’s stock valued at $17,857,000 after buying an additional 9,532 shares in the last quarter. Elevate Capital Advisors LLC purchased a new position in Adobe in the 2nd quarter valued at approximately $2,002,000. Sava Infond d.o.o. grew its stake in Adobe by 3.3% in the 2nd quarter. Sava Infond d.o.o. now owns 9,395 shares of the software company’s stock valued at $3,635,000 after buying an additional 300 shares in the last quarter. 111 Capital grew its stake in Adobe by 523.3% in the 2nd quarter. 111 Capital now owns 21,772 shares of the software company’s stock valued at $8,423,000 after buying an additional 18,279 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Adobe in the 2nd quarter valued at approximately $108,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Royal Bank Of Canada cut their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Barclays raised their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Price Performance

ADBE stock opened at $346.74 on Friday. The firm’s 50-day moving average price is $353.22 and its two-hundred day moving average price is $372.26. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market capitalization of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.55 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The company’s revenue for the quarter 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, equities analysts predict 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.