Adobe Inc. $ADBE Shares Sold by Asio Capital LLC

Key Points

• Asio Capital LLC has reduced its stake in Adobe Inc. by 9.1%, now holding 11,705 shares valued at approximately $4.53 million.
• Analysts have mixed views on Adobe's stock, with one analyst's target price of $500 amidst several downgrades, resulting in an average Hold rating and a target price of $433.41.
• In its latest earnings report, Adobe surpassed expectations with an EPS of $5.31 and revenue of $5.99 billion, marking a 10.7% year-over-year increase.

Asio Capital LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,705 shares of the software company's stock after selling 1,165 shares during the period. Asio Capital LLC's holdings in Adobe were worth $4,528,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADBE. Schmidt P J Investment Management Inc. boosted its holdings in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock worth $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. boosted its holdings in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co boosted its holdings in Adobe by 1.9% in 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 boosted its holdings in Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. boosted its holdings in Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after buying an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Mizuho lowered shares of Adobe from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. DA Davidson reissued a "buy" rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price on the stock. in a research note on Monday, August 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 given a Sell rating to the stock. Based on data from MarketBeat, Adobe currently has an average rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Down 0.3%

ADBE stock opened at $359.42 on Tuesday. The firm has a market cap of $150.45 billion, a PE ratio of 22.39, a PEG ratio of 1.62 and a beta of 1.48. 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's 50 day moving average price is $355.08 and its 200-day moving average price is $373.36. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

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, beating 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 business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. 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 research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

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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