Evolve Private Wealth LLC Purchases New Stake in Adobe Inc. $ADBE

Evolve Private Wealth LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,633 shares of the software company’s stock, valued at approximately $745,000.

A number of other hedge funds also recently modified their holdings of the stock. Varma Mutual Pension Insurance Co acquired a new position in Adobe in the 2nd quarter valued at about $15,218,000. Westpac Banking Corp bought a new stake in shares of Adobe during the second quarter worth approximately $6,657,000. Long Corridor Asset Management Ltd acquired a new position in shares of Adobe in the second quarter valued at approximately $10,046,000. Landscape Capital Management L.L.C. bought a new position in shares of Adobe during the second quarter worth approximately $923,000. Finally, Korea Investment CORP bought a new stake in Adobe in the 2nd quarter valued at $48,745,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ADBE shares. Jefferies Financial Group lowered their price objective on Adobe from $290.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, June 12th. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $282.00 to $308.00 in a research note on Thursday, July 2nd. Sanford C. Bernstein decreased their target price on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research report on Friday, June 12th. TD Cowen dropped their price target on shares of Adobe from $310.00 to $285.00 and set a “hold” rating for the company in a research report on Monday, June 8th. Finally, DA Davidson reduced their price target on Adobe from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $270.96.

Adobe Stock Up 0.4%

Shares of ADBE opened at $276.27 on Tuesday. The firm has a 50 day simple moving average of $234.01 and a two-hundred day simple moving average of $244.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a one year low of $190.12 and a one year high of $370.86. The company has a market cap of $109.82 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.93 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the company posted $5.06 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Research analysts forecast that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Insider Activity

In other news, CAO Jillian Forusz sold 416 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares of the company’s stock, valued at approximately $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. The trade was a 130.63% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.20% of the stock is currently owned by insiders.

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.