Westside Investment Management Inc. Buys 226 Shares of Adobe Inc. $ADBE

Westside Investment Management Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,520 shares of the software company’s stock after acquiring an additional 226 shares during the period. Westside Investment Management Inc.’s holdings in Adobe were worth $976,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Adobe in the first quarter worth about $25,000. Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter worth about $30,000. Nexus Investment Management ULC bought a new stake in Adobe in the second quarter worth about $31,000. Finally, Cornerstone Planning Group LLC raised its position in Adobe by 128.6% in the first quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock worth $39,000 after acquiring an additional 63 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $340.31 on Monday. The company has a 50 day moving average of $350.67 and a 200 day moving average of $368.89. The stock has a market cap of $142.45 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 12 month low of $327.50 and a 12 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.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 earnings per share. 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, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. Barclays set a $465.00 price target on shares of Adobe and gave the company an “overweight” rating in a research report on Wednesday. Citigroup lowered their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $433.41.

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.