Westerkirk Capital Inc. Invests $6.56 Million in Adobe Inc. $ADBE

Westerkirk Capital Inc. acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,943 shares of the software company’s stock, valued at approximately $6,555,000. Adobe makes up about 0.8% of Westerkirk Capital Inc.’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in shares of Adobe during the first quarter worth about $25,000. LSV Asset Management raised its stake in shares of Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Adobe during the first quarter worth about $29,000. Nexus Investment Management ULC purchased a new stake in Adobe in the second quarter valued at approximately $31,000. Finally, Horizon Financial Services LLC increased its holdings in Adobe by 4,000.0% in the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after buying an additional 80 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ADBE. Mizuho dropped their price objective on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. UBS Group decreased their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Royal Bank Of Canada lowered their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. BMO Capital Markets reiterated an “outperform” rating and set a $405.00 price objective on shares of Adobe in a research note on Wednesday, October 29th. Finally, DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Hold” and an average price target of $428.96.

Adobe Stock Up 0.8%

Shares of ADBE opened at $322.85 on Tuesday. The firm has a market cap of $135.15 billion, a P/E ratio of 20.12, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The stock’s 50 day moving average is $338.58 and its two-hundred day moving average is $361.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its earnings results 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 the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $4.65 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade 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 this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.