Robbins Farley Increases Stake in Adobe Inc. $ADBE

Robbins Farley lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 26.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,857 shares of the software company’s stock after buying an additional 1,001 shares during the period. Robbins Farley’s holdings in Adobe were worth $1,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mainsail Financial Group LLC increased its position in shares of Adobe by 8.7% during the second quarter. Mainsail Financial Group LLC now owns 3,344 shares of the software company’s stock valued at $1,218,000 after buying an additional 268 shares during the period. HCR Wealth Advisors increased its position in shares of Adobe by 2.6% during the second quarter. HCR Wealth Advisors now owns 3,429 shares of the software company’s stock valued at $1,327,000 after buying an additional 87 shares during the period. Poinciana Advisors Group LLC purchased a new position in shares of Adobe during the second quarter valued at about $460,000. Centennial Wealth Advisory LLC purchased a new position in shares of Adobe during the second quarter valued at about $218,000. Finally, Northwest Wealth Management LLC purchased a new position in shares of Adobe during the second quarter valued at about $286,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADBE shares. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 0.3%

Shares of NASDAQ ADBE opened at $359.42 on Tuesday. The firm’s 50 day moving average price is $355.08 and its 200-day moving average price is $373.36. The company has a market cap of $150.45 billion, a PE ratio of 22.39, a P/E/G ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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 business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. On average, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

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.