Adobe Inc. $ADBE Shares Bought by Ballast Advisors LLC

Ballast Advisors LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,130 shares of the software company’s stock after purchasing an additional 245 shares during the quarter. Ballast Advisors LLC’s holdings in Adobe were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Schmidt P J Investment Management Inc. increased its holdings in shares of Adobe by 2.9% in the 1st 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 during the period. GS Investments Inc. increased its holdings in shares of Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co increased its holdings in shares of Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after acquiring an additional 26 shares during the period. Lifeworks Advisors LLC increased its holdings in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its holdings in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after acquiring an additional 27 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $353.52 on Friday. The firm has a market capitalization of $147.98 billion, a P/E ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. The company’s fifty day moving average is $351.71 and its two-hundred day moving average is $368.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s 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 forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ADBE shares. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Piper Sandler dropped their price objective 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. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, UBS Group dropped their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.