Mitchell Sinkler & Starr PA Grows Stock Position in Adobe Inc. $ADBE

Mitchell Sinkler & Starr PA grew its position in Adobe Inc. (NASDAQ:ADBE) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,021 shares of the software company’s stock after acquiring an additional 60 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Adobe were worth $395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Adobe by 1.6% in the second quarter. CWM LLC now owns 66,063 shares of the software company’s stock valued at $25,558,000 after purchasing an additional 1,051 shares during the last quarter. Advocate Group LLC increased its holdings in shares of Adobe by 6.1% in the second quarter. Advocate Group LLC now owns 14,551 shares of the software company’s stock valued at $5,629,000 after purchasing an additional 837 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Adobe by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 59,573 shares of the software company’s stock valued at $23,056,000 after purchasing an additional 4,732 shares during the last quarter. Summa Corp. increased its holdings in shares of Adobe by 10.1% in the second quarter. Summa Corp. now owns 1,901 shares of the software company’s stock valued at $735,000 after purchasing an additional 175 shares during the last quarter. Finally, Sather Financial Group Inc increased its holdings in shares of Adobe by 5.1% in the second quarter. Sather Financial Group Inc now owns 125,071 shares of the software company’s stock valued at $48,387,000 after purchasing an additional 6,058 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 2.9%

Shares of NASDAQ ADBE opened at $337.51 on Friday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $351.67 and a 200-day simple moving average of $370.59. The stock has a market capitalization of $141.28 billion, a PE ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and cut their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. TD Cowen cut their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, September 12th. Barclays raised their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Robert W. Baird raised their target price on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $433.41.

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.