HighMark Wealth Management LLC Purchases 195 Shares of Adobe Inc. $ADBE

HighMark Wealth Management LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 224.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 282 shares of the software company’s stock after purchasing an additional 195 shares during the period. HighMark Wealth Management LLC’s holdings in Adobe were worth $109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. 1248 Management LLC acquired a new stake in shares of Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the 1st quarter valued at $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe in the 1st quarter worth $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 2.3%

NASDAQ ADBE opened at $351.48 on Friday. The stock’s 50 day simple moving average is $353.70 and its 200 day simple moving average is $372.68. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The firm has a market cap of $147.13 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.65 earnings per share. 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, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ADBE. Morgan Stanley downgraded 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. Evercore ISI lowered their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.