Cerity Partners LLC Purchases 26,499 Shares of Adobe Inc. $ADBE

Cerity Partners LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 10.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 289,171 shares of the software company’s stock after buying an additional 26,499 shares during the period. Cerity Partners LLC owned 0.07% of Adobe worth $111,875,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADBE. Lathrop Investment Management Co. grew its holdings in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares in the last quarter. Mcdaniel Terry & Co. boosted its position in shares of Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new stake in Adobe in the second quarter worth $328,000. Koss Olinger Consulting LLC bought a new stake in Adobe in the first quarter worth $305,000. Finally, Bourgeon Capital Management LLC raised its stake in Adobe by 41.0% during the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after purchasing an additional 7,176 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADBE shares. Wells Fargo & Company dropped their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Finally, Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research report on Saturday. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $425.85.

Adobe Trading Up 5.3%

ADBE opened at $346.26 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $336.48 and its 200-day moving average price is $359.74. Adobe Inc. has a one year low of $311.58 and a one year high of $557.90. The stock has a market cap of $144.94 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 1.27 and a beta of 1.54.

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 analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total value 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 represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.