Harold Davidson & Associates Inc. Sells 1,737 Shares of Adobe Inc. $ADBE

Key Points

• Harold Davidson & Associates Inc. has reduced its holdings in Adobe Inc. by 19.1%, now owning 7,370 shares worth approximately $2.83 million, making Adobe the firm's 17th largest holding.
• Institutional investors own 81.79% of Adobe's stock, with GAMMA Investing LLC and Goldman Sachs Group Inc. significantly increasing their positions in the first quarter.
• Analysts have given Adobe a consensus rating of Moderate Buy with a price target of $444.89, amidst mixed reviews from various research firms regarding investment recommendations.

Harold Davidson & Associates Inc. decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,370 shares of the software company's stock after selling 1,737 shares during the period. Adobe makes up approximately 1.5% of Harold Davidson & Associates Inc.'s holdings, making the stock its 17th biggest position. Harold Davidson & Associates Inc.'s holdings in Adobe were worth $2,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. bought a new position in Adobe in the 1st quarter worth about $34,000. PFG Advisors grew its position in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares during the last quarter. Krane Funds Advisors LLC lifted its stake in shares of Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after acquiring an additional 730 shares during the period. Financial Counselors Inc. lifted its stake in shares of Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after acquiring an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Adobe in the 1st quarter worth approximately $305,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $2.26 on Monday, hitting $347.10. 6,760,024 shares of the company were exchanged, compared to its average volume of 3,900,378. The company's 50 day moving average price is $357.32 and its two-hundred day moving average price is $378.97. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48.

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 during 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 company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior 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. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on ADBE. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday. Bank of America raised their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Piper Sandler reduced their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday. JMP Securities restated a "market perform" rating on shares of Adobe in a report on Friday. Finally, Oppenheimer decreased their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Adobe presently has an average rating of "Moderate Buy" and a consensus target price of $435.63.

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.