Beacon Pointe Advisors LLC Has $6.58 Million Holdings in Adobe Inc. $ADBE

Beacon Pointe Advisors LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 24.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,000 shares of the software company’s stock after selling 5,388 shares during the period. Beacon Pointe Advisors LLC’s holdings in Adobe were worth $6,577,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADBE. Brighton Jones LLC boosted its holdings 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 worth $3,588,000 after buying an additional 167 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Adobe by 4.2% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 912 shares of the software company’s stock worth $350,000 after acquiring an additional 37 shares in the last quarter. West Michigan Advisors LLC boosted its stake in Adobe by 9.1% during the first quarter. West Michigan Advisors LLC now owns 562 shares of the software company’s stock worth $216,000 after acquiring an additional 47 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in Adobe by 1.9% in the first quarter. Wealthspire Advisors LLC now owns 3,879 shares of the software company’s stock worth $1,488,000 after purchasing an additional 74 shares during the period. Finally, Twin City Private Wealth LLC increased its stake in Adobe by 12.8% in the first quarter. Twin City Private Wealth LLC now owns 2,164 shares of the software company’s stock valued at $830,000 after purchasing an additional 245 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 1.2%

Shares of NASDAQ:ADBE opened at $326.78 on Thursday. The business’s 50 day moving average is $337.27 and its 200 day moving average is $360.89. Adobe Inc. has a 12-month low of $311.58 and a 12-month high of $557.90. The stock has a market cap of $136.79 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.18 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADBE. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Evercore ISI cut their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. UBS Group decreased their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Finally, Barclays set a $465.00 price target on shares of Adobe and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $428.96.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were 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. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.