Adobe Inc. $ADBE Position Lowered by PFG Investments LLC

PFG Investments LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,447 shares of the software company's stock after selling 773 shares during the period. PFG Investments LLC's holdings in Adobe were worth $1,720,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ADBE. 1248 Management LLC bought a new position in Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. bought a new position in Adobe in the first quarter worth about $34,000. Institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADBE. Morgan Stanley cut shares of Adobe from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Bank of America lifted their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $433.41.

Adobe Trading Down 2.6%

Adobe stock opened at $343.72 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $143.88 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm's 50 day moving average price is $354.11 and its two-hundred day moving average price is $373.01.

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. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.

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