AGP Franklin LLC Has $3.05 Million Stock Position in Adobe Inc. $ADBE

AGP Franklin LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 59.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,882 shares of the software company’s stock after acquiring an additional 2,943 shares during the quarter. Adobe accounts for about 1.6% of AGP Franklin LLC’s holdings, making the stock its 19th largest position. AGP Franklin LLC’s holdings in Adobe were worth $3,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Camden National Bank lifted its holdings in shares of Adobe by 44.2% in the second quarter. Camden National Bank now owns 35,180 shares of the software company’s stock valued at $13,610,000 after purchasing an additional 10,787 shares in the last quarter. Meridian Wealth Advisors LLC raised its position in Adobe by 1.6% during the second quarter. Meridian Wealth Advisors LLC now owns 10,075 shares of the software company’s stock valued at $3,898,000 after buying an additional 162 shares during the period. Richard W. Paul & Associates LLC lifted its stake in Adobe by 39.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 958 shares of the software company’s stock worth $371,000 after acquiring an additional 272 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Adobe during the 2nd quarter worth about $5,111,000. Finally, AlphaCore Capital LLC grew its stake in Adobe by 50.2% during the 2nd quarter. AlphaCore Capital LLC now owns 5,242 shares of the software company’s stock valued at $2,028,000 after acquiring an additional 1,751 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 3.8%

ADBE stock opened at $324.19 on Friday. The stock has a market capitalization of $135.71 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a 50-day moving average of $343.44 and a two-hundred day moving average of $365.22. Adobe Inc. has a 52-week low of $311.58 and a 52-week 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.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm earned $4.65 EPS. 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 EPS for the current year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Thursday. Mizuho cut their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $428.96.

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.