Truffle Hound Capital LLC Invests $3.10 Million in Adobe Inc. $ADBE

Truffle Hound Capital LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the software company’s stock, valued at approximately $3,095,000. Adobe accounts for approximately 0.8% of Truffle Hound Capital LLC’s holdings, making the stock its 22nd largest holding.

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

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Adobe Trading Down 1.8%

ADBE opened at $325.07 on Tuesday. The company has a fifty day moving average price of $345.94 and a two-hundred day moving average price of $366.72. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The company has a market cap of $136.07 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS 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 company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 EPS. The firm’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. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $433.41.

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.