Summa Corp. Has $735,000 Stock Position in Adobe Inc. $ADBE

Summa Corp. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,901 shares of the software company’s stock after purchasing an additional 175 shares during the quarter. Adobe accounts for 0.4% of Summa Corp.’s holdings, making the stock its 27th biggest holding. Summa Corp.’s holdings in Adobe were worth $735,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of ADBE. 1248 Management LLC acquired a new stake in Adobe in the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe in the first quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe in the first quarter valued at about $30,000. Finally, Garde Capital Inc. acquired a new stake in Adobe in the first quarter valued at about $34,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of ADBE opened at $337.51 on Friday. Adobe Inc. has a 1 year low of $330.04 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 company has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The business has a 50-day moving average of $351.67 and a 200-day moving average of $370.59.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the company earned $4.65 earnings per share. The firm’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, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the topic of several research analyst reports. Evercore ISI reduced their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. BMO Capital Markets cut their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target on the stock. in a research note on Wednesday, July 2nd. Redburn Atlantic lowered 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 research note on Wednesday, July 2nd. Finally, Robert W. Baird lifted their price target on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.