Summa Corp. Has $735,000 Stock Holdings in Adobe Inc. $ADBE

Summa Corp. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,901 shares of the software company’s stock after purchasing an additional 175 shares during the period. Adobe accounts for approximately 0.4% of Summa Corp.’s investment portfolio, making the stock its 27th biggest position. Summa Corp.’s holdings in Adobe were worth $735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe in the first quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the first quarter valued at $30,000. Finally, Garde Capital Inc. acquired a new position in shares of Adobe in the first quarter valued at $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Oppenheimer lowered their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. TD Cowen lowered their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Finally, DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $337.51 on Friday. The firm has a market cap of $141.28 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. 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 business’s fifty day moving average is $351.67 and its 200-day moving average is $370.59.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.