Pinkerton Wealth LLC Grows Holdings in Adobe Inc. $ADBE

Pinkerton Wealth LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,160 shares of the software company’s stock after buying an additional 528 shares during the period. Pinkerton Wealth LLC’s holdings in Adobe were worth $2,770,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Lathrop Investment Management Co. lifted 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 worth $10,269,000 after buying an additional 718 shares during the last quarter. Mcdaniel Terry & Co. increased its holdings in shares of Adobe by 2.8% in 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 acquired a new stake in shares of Adobe during the 2nd quarter valued at approximately $328,000. Koss Olinger Consulting LLC acquired a new stake in shares of Adobe during the 1st quarter valued at approximately $305,000. Finally, Bourgeon Capital Management LLC lifted 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 worth $9,548,000 after purchasing an additional 7,176 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on 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 owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was 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 at the SEC website. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ADBE shares. Evercore ISI dropped their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Wells Fargo & Company lowered their target price on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Thursday, November 20th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus target price of $428.96.

Adobe Trading Up 0.8%

Shares of ADBE stock opened at $322.85 on Tuesday. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90. The stock has a fifty day moving average of $338.58 and a two-hundred day moving average of $361.79. 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 firm has a market capitalization of $135.15 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $4.65 EPS. 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, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.