Davidson Capital Management Inc. Purchases 659 Shares of Adobe Inc. $ADBE

by · The Markets Daily

Davidson Capital Management Inc. increased its position in Adobe Inc. (NASDAQ:ADBE – Free Report) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,595 shares of the software company’s stock after buying an additional 659 shares during the period. Davidson Capital Management Inc.’s holdings in Adobe were worth $2,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth about $25,000. Flaharty Asset Management LLC bought a new position in Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the 1st quarter worth approximately $30,000. Nexus Investment Management ULC purchased a new stake in Adobe during the 2nd quarter valued at approximately $31,000. Finally, Barnes Dennig Private Wealth Management LLC raised its position in shares of Adobe by 44.9% during the second quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock valued at $39,000 after buying an additional 31 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $405.00 target price on shares of Adobe in a research report on Wednesday, October 29th. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Finally, Citigroup dropped their price target 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 research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $433.41.

View Our Latest Research Report on Adobe

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Adobe Trading Up 0.6%

Shares of ADBE stock opened at $328.85 on Tuesday. The company has a market cap of $137.66 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 1 year low of $323.03 and a 1 year high of $557.90. The stock’s 50 day simple moving average is $347.66 and its two-hundred day simple moving average is $368.10. 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 – Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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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