Gallacher Capital Management LLC Increases Stake in Adobe Inc. $ADBE

Gallacher Capital Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 702 shares of the software company’s stock after acquiring an additional 102 shares during the period. Gallacher Capital Management LLC’s holdings in Adobe were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Investors Research Corp raised its stake in Adobe by 3.4% during the second quarter. Investors Research Corp now owns 1,504 shares of the software company’s stock worth $582,000 after purchasing an additional 50 shares during the period. Teamwork Financial Advisors LLC increased its holdings in shares of Adobe by 12.8% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 6,267 shares of the software company’s stock worth $2,425,000 after buying an additional 711 shares during the last quarter. Capital Asset Advisory Services LLC raised its position in shares of Adobe by 2.3% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 2,821 shares of the software company’s stock worth $1,106,000 after buying an additional 64 shares during the period. Wesbanco Bank Inc. boosted its holdings in Adobe by 31.5% in the second quarter. Wesbanco Bank Inc. now owns 2,063 shares of the software company’s stock valued at $798,000 after acquiring an additional 494 shares during the last quarter. Finally, Somerset Trust Co grew its position in Adobe by 7.3% during the second quarter. Somerset Trust Co now owns 1,623 shares of the software company’s stock valued at $628,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $347.10 on Tuesday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The firm’s fifty day moving average price is $356.72 and its 200 day moving average price is $378.33.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company 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. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stifel Nicolaus dropped their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Evercore ISI dropped their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.63.

Adobe 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.