Adobe Inc. $ADBE Shares Acquired by Solidarity Wealth LLC

Solidarity Wealth LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,109 shares of the software company’s stock after purchasing an additional 364 shares during the period. Adobe accounts for 1.5% of Solidarity Wealth LLC’s investment portfolio, making the stock its 22nd biggest position. Solidarity Wealth LLC’s holdings in Adobe were worth $6,619,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in Adobe by 241.5% in the first quarter. Baker Avenue Asset Management LP now owns 2,524 shares of the software company’s stock valued at $968,000 after acquiring an additional 1,785 shares during the period. J. Safra Sarasin Holding AG boosted its stake in Adobe by 52.8% in the first quarter. J. Safra Sarasin Holding AG now owns 8,040 shares of the software company’s stock valued at $3,105,000 after acquiring an additional 2,779 shares during the period. Bank of Nova Scotia Trust Co. grew its holdings in shares of Adobe by 30.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 2,400 shares of the software company’s stock valued at $920,000 after purchasing an additional 567 shares during the last quarter. Finally, Liberty Wealth Management LLC lifted its holdings in shares of Adobe by 28,143.1% in the 1st quarter. Liberty Wealth Management LLC now owns 400,770 shares of the software company’s stock worth $141,000 after purchasing an additional 399,351 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. BMO Capital Markets reissued an “outperform” rating and set a $405.00 price target on shares of Adobe in a report on Wednesday, October 29th. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $428.96.

Adobe Stock Up 0.9%

Adobe stock opened at $320.25 on Monday. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $557.90. The stock has a market cap of $134.05 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.51 and a beta of 1.47. The company’s 50-day moving average price is $339.41 and its two-hundred day moving average price is $362.37. 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 posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’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, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.