Private Harbour Investment Management & Counsel LLC Buys Shares of 2,308 Adobe Inc. $ADBE

Private Harbour Investment Management & Counsel LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,308 shares of the software company’s stock, valued at approximately $893,000.

A number of other institutional investors have also made changes to their positions in ADBE. 1248 Management LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $25,000. LSV Asset Management raised its position in Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the period. Flaharty Asset Management LLC acquired a new position in Adobe during the first quarter worth $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the first quarter worth $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe during the second quarter worth $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 1.8%

Shares of NASDAQ:ADBE opened at $312.40 on Friday. Adobe Inc. has a fifty-two week low of $312.09 and a fifty-two week high of $557.90. The firm’s 50 day moving average price is $343.95 and its 200 day moving average price is $365.61. 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 stock has a market cap of $130.77 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The firm’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. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ADBE shares. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Wells Fargo & Company reduced their price target on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Finally, Mizuho dropped their price objective on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $428.96.

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.