Burling Wealth Partners LLC Has $677,000 Holdings in Adobe Inc. $ADBE

by · The Cerbat Gem

Burling Wealth Partners LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 27.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,749 shares of the software company’s stock after selling 666 shares during the quarter. Burling Wealth Partners LLC’s holdings in Adobe were worth $677,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADBE. Schmidt P J Investment Management Inc. increased its holdings in Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co increased its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC raised its holdings in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after buying an additional 27 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. UBS Group lowered their price target 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. DA Davidson reaffirmed a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Finally, Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $433.41.

Read Our Latest Stock Report on Adobe

Adobe Price Performance

ADBE opened at $333.60 on Friday. The company has a fifty day moving average price of $346.97 and a two-hundred day moving average price of $367.41. The firm has a market capitalization of $139.64 billion, a PE ratio of 20.79, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 52 week low of $323.03 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.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its quarterly 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company earned $4.65 EPS. The firm’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. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Company Profile

(Free Report)

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.

See Also

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