Westerkirk Capital Inc. Acquires New Stake in Adobe Inc. $ADBE

Westerkirk Capital Inc. acquired a new stake in Adobe Inc. (NASDAQ:ADBE) during the second quarter, Holdings Channel reports. The fund acquired 16,943 shares of the software company’s stock, valued at approximately $6,555,000. Adobe accounts for approximately 0.8% of Westerkirk Capital Inc.’s investment portfolio, making the stock its 25th largest position.

A number of other large investors have also modified their holdings of the business. Quantbot Technologies LP lifted its stake in shares of Adobe by 28,164.9% in the second quarter. Quantbot Technologies LP now owns 43,528 shares of the software company’s stock worth $16,840,000 after buying an additional 43,374 shares in the last quarter. MBM Wealth Consultants LLC raised its holdings in Adobe by 28.4% in the 2nd quarter. MBM Wealth Consultants LLC now owns 3,578 shares of the software company’s stock valued at $1,384,000 after acquiring an additional 791 shares during the last quarter. Solidarity Wealth LLC raised its holdings in Adobe by 2.2% in the 2nd quarter. Solidarity Wealth LLC now owns 17,109 shares of the software company’s stock valued at $6,619,000 after acquiring an additional 364 shares during the last quarter. Claret Asset Management Corp lifted its stake in Adobe by 31.5% in the 2nd quarter. Claret Asset Management Corp now owns 713 shares of the software company’s stock worth $276,000 after purchasing an additional 171 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Adobe by 34.2% during the 2nd quarter. Edgestream Partners L.P. now owns 4,291 shares of the software company’s stock worth $1,660,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.8%

Shares of ADBE stock opened at $322.85 on Tuesday. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The firm has a market cap of $135.15 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a 50-day moving average of $338.58 and a two-hundred day moving average of $361.79. 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 issued its quarterly earnings data 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 firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business 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, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADBE shares. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. UBS Group reduced their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. Finally, Wells Fargo & Company cut their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $428.96.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was 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 in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

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.