Granite Harbor Advisors Inc. Buys 149 Shares of Adobe Inc. $ADBE

Granite Harbor Advisors Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 755 shares of the software company’s stock after purchasing an additional 149 shares during the period. Granite Harbor Advisors Inc.’s holdings in Adobe were worth $292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Schmidt P J Investment Management Inc. increased its position in shares of Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after acquiring an additional 25 shares in the last quarter. GS Investments Inc. grew its position in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co boosted its stake in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after acquiring an additional 26 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. boosted its stake in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE stock opened at $354.09 on Thursday. 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 company has a market capitalization of $148.22 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.60 and a beta of 1.49. The company’s 50-day simple moving average is $351.63 and its two-hundred day simple moving average is $368.54. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm 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, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADBE shares. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Piper Sandler lowered their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Finally, Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

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.