PFG Advisors Has $2.36 Million Stock Holdings in Adobe Inc. $ADBE

PFG Advisors grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 23.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,104 shares of the software company’s stock after buying an additional 1,140 shares during the quarter. PFG Advisors’ holdings in Adobe were worth $2,362,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADBE. 1248 Management LLC bought a new position in Adobe in the first quarter worth approximately $25,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter worth approximately $30,000. Nexus Investment Management ULC bought a new position in shares of Adobe in the 2nd quarter worth $31,000. Finally, Barnes Dennig Private Wealth Management LLC grew its position in Adobe by 44.9% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock valued at $39,000 after purchasing an additional 31 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. BMO Capital Markets restated an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday, October 29th. Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Barclays set a $465.00 price objective on Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.1%

Shares of NASDAQ:ADBE opened at $326.95 on Monday. The company has a market capitalization of $136.86 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 1 year low of $323.03 and a 1 year high of $557.90. 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 business has a fifty day moving average price of $348.22 and a two-hundred day moving average price of $368.33.

Adobe (NASDAQ:ADBE) last released its earnings results 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. The firm had revenue of $5.99 billion during 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior 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. 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.