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

Beacon Pointe Advisors LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. grew its position in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares in the last quarter. Ted Buchan & Co increased its position in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after purchasing an additional 26 shares during the period. VanderPol Investments L.L.C. increased its position in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares during the period. Rise Advisors LLC raised its stake in Adobe by 7.0% in the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after purchasing an additional 27 shares in the last quarter. Finally, FSM Wealth Advisors LLC lifted its position in Adobe by 1.1% during the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

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

Adobe Stock Performance

Shares of Adobe stock opened at $326.78 on Thursday. The company’s 50 day moving average price is $337.27 and its two-hundred day moving average price is $360.89. The firm has a market capitalization of $136.79 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.18 and a beta of 1.54. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two 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 announced 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. Adobe’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 and its Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ADBE. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $428.96.

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.