Adobe Inc. $ADBE Shares Sold by Alta Capital Management LLC

Key Points

• Alta Capital Management LLC has reduced its stake in Adobe Inc. by 11.1%, selling 13,392 shares and retaining 106,884 shares, which are valued at approximately $41.35 million.
• Adobe's recent quarterly earnings report revealed an EPS of $5.31, surpassing analyst estimates, with revenues reaching $5.99 billion, indicating a 10.7% year-over-year growth.
• A mix of analyst ratings for Adobe shares includes one "Strong Buy," thirteen "Buy," eleven "Hold," and three "Sell," with a consensus target price of $433.41.

Alta Capital Management LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,884 shares of the software company's stock after selling 13,392 shares during the period. Adobe comprises approximately 2.4% of Alta Capital Management LLC's holdings, making the stock its 17th largest holding. Alta Capital Management LLC's holdings in Adobe were worth $41,352,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. raised its stake in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. raised its position in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co raised its position 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 buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC increased its holdings in shares of 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 purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. increased its holdings in Adobe by 5.2% during the 1st 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 in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 1.6%

NASDAQ:ADBE opened at $330.63 on Thursday. Adobe Inc. has a 1-year low of $329.20 and a 1-year high of $557.90. The business's 50-day moving average price is $351.33 and its two-hundred day moving average price is $369.58. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $138.40 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.51 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADBE shares. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. BMO Capital Markets decreased their price objective on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday, September 12th. UBS Group reduced 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. Barclays lifted their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Finally, Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research note on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $433.41.

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.

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