First Horizon Advisors Inc. Purchases 1,041 Shares of Adobe Inc. $ADBE

First Horizon Advisors Inc. increased its position in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 47,888 shares of the software company’s stock after buying an additional 1,041 shares during the period. First Horizon Advisors Inc.’s holdings in Adobe were worth $18,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the period. Concurrent Investment Advisors LLC increased its stake in Adobe by 9.7% in the first quarter. Concurrent Investment Advisors LLC now owns 4,656 shares of the software company’s stock valued at $1,786,000 after acquiring an additional 413 shares during the period. Crossmark Global Holdings Inc. boosted its position in Adobe by 26.1% in the first quarter. Crossmark Global Holdings Inc. now owns 31,825 shares of the software company’s stock valued at $12,206,000 after buying an additional 6,581 shares in the last quarter. Investment Partners LTD. boosted its position in Adobe by 13.5% in the first quarter. Investment Partners LTD. now owns 1,358 shares of the software company’s stock valued at $521,000 after buying an additional 161 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC boosted its position in Adobe by 163.2% in the first quarter. Garrett Wealth Advisory Group LLC now owns 1,453 shares of the software company’s stock valued at $557,000 after buying an additional 901 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $335.35 on Wednesday. The stock has a market cap of $140.38 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a fifty day moving average price of $349.76 and a two-hundred day moving average price of $368.72. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. 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, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of research reports. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. TD Cowen lowered their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Barclays set a $465.00 target price on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and an average price target of $433.41.

Insider Buying and Selling

In other Adobe 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 completion of the sale, the chief accounting officer 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

About Adobe

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.