14,988 Shares in Adobe Inc. $ADBE Bought by Seizert Capital Partners LLC

Seizert Capital Partners LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, HoldingsChannel reports. The fund purchased 14,988 shares of the software company’s stock, valued at approximately $5,799,000.

Several other large investors have also added to or reduced their stakes in ADBE. Sierra Legacy Group lifted its holdings in shares of Adobe by 85.8% during the second quarter. Sierra Legacy Group now owns 3,400 shares of the software company’s stock worth $1,315,000 after purchasing an additional 1,570 shares during the period. Renaissance Group LLC increased its holdings in Adobe by 9.1% in the 2nd quarter. Renaissance Group LLC now owns 77,764 shares of the software company’s stock worth $30,085,000 after buying an additional 6,488 shares during the period. Heritage Wealth Advisors lifted its stake in Adobe by 16.1% during the 2nd quarter. Heritage Wealth Advisors now owns 1,167 shares of the software company’s stock valued at $451,000 after acquiring an additional 162 shares during the period. Traub Capital Management LLC acquired a new stake in Adobe during the 2nd quarter valued at approximately $475,000. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Adobe by 7.3% in the 2nd quarter. Wealthspire Advisors LLC now owns 4,163 shares of the software company’s stock valued at $1,611,000 after acquiring an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADBE. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Oppenheimer lowered their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. DA Davidson reiterated a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Finally, Barclays set a $465.00 price objective on Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $433.41.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of Adobe 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 sale, the chief accounting officer owned 3,426 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Adobe Stock Down 0.2%

Adobe stock opened at $324.47 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $135.82 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. The business has a 50 day simple moving average of $345.35 and a 200-day simple moving average of $366.32. Adobe Inc. has a 12 month low of $320.80 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $4.65 EPS. The firm’s revenue for the quarter 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. On average, analysts anticipate 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.