Kingsview Wealth Management LLC Buys 80,753 Shares of Adobe Inc. $ADBE

Kingsview Wealth Management LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 372.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,423 shares of the software company’s stock after purchasing an additional 80,753 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Adobe were worth $39,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. grew its position in shares of Adobe by 1,166.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 85,875 shares of the software company’s stock worth $33,223,000 after buying an additional 79,096 shares in the last quarter. Intech Investment Management LLC grew its holdings in Adobe by 28.7% during the 2nd quarter. Intech Investment Management LLC now owns 252,533 shares of the software company’s stock worth $97,700,000 after acquiring an additional 56,354 shares in the last quarter. Paragon Capital Management LLC purchased a new position in Adobe during the 2nd quarter valued at about $962,000. Cetera Investment Advisers raised its holdings in shares of Adobe by 3.9% in the 2nd quarter. Cetera Investment Advisers now owns 106,607 shares of the software company’s stock valued at $41,244,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Adobe by 1.5% in the 2nd quarter. Creative Planning now owns 137,884 shares of the software company’s stock worth $53,345,000 after purchasing an additional 2,040 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADBE. Barclays set a $465.00 price objective on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. Evercore ISI decreased their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Adobe Trading Down 0.7%

Adobe stock opened at $331.11 on Friday. The stock has a 50-day moving average price of $346.61 and a 200 day moving average price of $367.12. The company has a market capitalization of $138.60 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 52 week low of $323.03 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

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