Raleigh Capital Management Inc. Acquires 506 Shares of Adobe Inc. $ADBE

Raleigh Capital Management Inc. increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 80.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138 shares of the software company’s stock after acquiring an additional 506 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Adobe were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new position in Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter worth $30,000. Finally, Garde Capital Inc. purchased a new stake in shares of Adobe in the first quarter worth $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADBE shares. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Stifel Nicolaus dropped their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research note on Friday, June 13th. TD Cowen reduced their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Down 1.9%

Shares of ADBE stock opened at $352.75 on Wednesday. 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 Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market capitalization of $147.66 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48. The firm’s 50 day moving average is $354.68 and its 200 day moving average is $373.21.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the firm earned $4.65 EPS. The company’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. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current 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.