Adobe Inc. $ADBE Shares Sold by Birch Hill Investment Advisors LLC

Key Points

• Birch Hill Investment Advisors LLC reduced its holdings in Adobe Inc. by 10.2%, now owning 41,774 shares valued at approximately $16.16 million.
• Adobe reported $5.31 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $5.18 and showing a 10.7% year-over-year revenue growth.
• The consensus rating for Adobe's stock is currently a "hold" with a price target of $433.41, following several recent downgrades by investment analysts.

Birch Hill Investment Advisors LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,774 shares of the software company's stock after selling 4,760 shares during the period. Birch Hill Investment Advisors LLC's holdings in Adobe were worth $16,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADBE. PFG Advisors boosted its position in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. boosted its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Koss Olinger Consulting LLC purchased a new stake in Adobe during the first quarter worth $305,000. Finally, Summit Trail Advisors LLC lifted its position in shares of Adobe by 36.2% in the first quarter. Summit Trail Advisors LLC now owns 9,719 shares of the software company's stock valued at $3,728,000 after acquiring an additional 2,583 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

ADBE stock opened at $357.55 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The firm has a market cap of $149.67 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The stock has a 50-day simple moving average of $351.57 and a 200-day simple moving average of $368.64.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The company'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. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. TD Cowen reduced their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research report on Friday, September 12th. Weiss Ratings restated a "hold (c-)" rating on shares of Adobe in a research report on Wednesday, October 8th. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Finally, Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Adobe currently has an average rating of "Hold" and a consensus price target 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.

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