Solidarity Wealth LLC Boosts Stock Holdings in Adobe Inc. $ADBE

Solidarity Wealth LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,109 shares of the software company’s stock after purchasing an additional 364 shares during the quarter. Adobe comprises approximately 1.5% of Solidarity Wealth LLC’s holdings, making the stock its 22nd biggest holding. Solidarity Wealth LLC’s holdings in Adobe were worth $6,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. Brighton Jones LLC lifted 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 valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Baker Avenue Asset Management LP increased its position in Adobe by 241.5% during the 1st quarter. Baker Avenue Asset Management LP now owns 2,524 shares of the software company’s stock worth $968,000 after purchasing an additional 1,785 shares in the last quarter. J. Safra Sarasin Holding AG raised its holdings in Adobe by 52.8% in the first quarter. J. Safra Sarasin Holding AG now owns 8,040 shares of the software company’s stock valued at $3,105,000 after buying an additional 2,779 shares during the period. Bank of Nova Scotia Trust Co. lifted its position in Adobe by 30.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 2,400 shares of the software company’s stock valued at $920,000 after buying an additional 567 shares in the last quarter. Finally, Liberty Wealth Management LLC grew its stake in Adobe by 28,143.1% during the first quarter. Liberty Wealth Management LLC now owns 400,770 shares of the software company’s stock worth $141,000 after buying an additional 399,351 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. BMO Capital Markets reissued an “outperform” rating and set a $405.00 price target on shares of Adobe in a research report on Wednesday, October 29th. Evercore ISI lowered 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, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average price target of $428.96.

Adobe Price Performance

ADBE stock opened at $320.25 on Monday. The stock’s 50 day moving average is $339.41 and its two-hundred day moving average is $362.37. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $557.90. The company has a market capitalization of $134.05 billion, a PE ratio of 19.95, a P/E/G ratio of 1.51 and a beta of 1.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business posted $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Adobe Company 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.