Journey Strategic Wealth LLC Has $1.31 Million Stock Holdings in Adobe Inc. $ADBE

Journey Strategic Wealth LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 44.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,375 shares of the software company’s stock after acquiring an additional 1,032 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Adobe were worth $1,306,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ADBE. Georgetown University bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $2,155,000. Varenne Capital Partners lifted its stake in Adobe by 5.7% in the second quarter. Varenne Capital Partners now owns 52,720 shares of the software company’s stock valued at $20,396,000 after acquiring an additional 2,841 shares during the last quarter. Franklin Resources Inc. grew its position in Adobe by 68.9% in the second quarter. Franklin Resources Inc. now owns 1,939,018 shares of the software company’s stock worth $750,168,000 after acquiring an additional 791,077 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Adobe by 9.5% during the 2nd quarter. Mediolanum International Funds Ltd now owns 87,534 shares of the software company’s stock worth $33,773,000 after purchasing an additional 7,617 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Adobe during the 2nd quarter valued at $62,823,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was 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 the SEC website. Insiders own 0.16% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $324.19 on Friday. The firm’s 50-day moving average is $343.44 and its 200-day moving average is $365.22. The company has a market cap of $135.71 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.51 and a beta of 1.47. 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 Inc. has a 52-week low of $311.58 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. Barclays set a $465.00 target price on shares of Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company lowered their price target on Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $428.96.

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.