Elevate Capital Advisors LLC Buys Shares of 5,174 Adobe Inc. $ADBE

Elevate Capital Advisors LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 5,174 shares of the software company’s stock, valued at approximately $2,002,000.

Several other hedge funds also recently made changes to their positions in ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. RFG Advisory LLC grew its stake in shares of Adobe by 72.9% in the 1st quarter. RFG Advisory LLC now owns 2,702 shares of the software company’s stock worth $1,036,000 after purchasing an additional 1,139 shares during the last quarter. Breakwater Capital Group grew its stake in shares of Adobe by 165.3% in the 1st quarter. Breakwater Capital Group now owns 1,353 shares of the software company’s stock worth $519,000 after purchasing an additional 843 shares during the last quarter. Vest Financial LLC grew its stake in shares of Adobe by 73.4% in the 1st quarter. Vest Financial LLC now owns 4,497 shares of the software company’s stock worth $1,725,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Stablepoint Partners LLC grew its stake in shares of Adobe by 37.2% in the 1st quarter. Stablepoint Partners LLC now owns 2,213 shares of the software company’s stock worth $849,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $346.74 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49. The firm has a 50 day simple moving average of $353.22 and a 200 day simple moving average of $372.37. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly 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. The business 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $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. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Saturday, September 27th. Morgan Stanley cut shares of 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 report on Wednesday, September 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. UBS Group decreased their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Finally, BMO Capital Markets decreased their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and an average price target of $433.41.

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.