Adobe Inc. $ADBE Stock Position Decreased by Paloma Partners Management Co

Key Points

• Paloma Partners Management Co significantly reduced its stake in Adobe by 59.3%, now holding 18,900 shares worth approximately $7.2 million, making it the 23rd largest holding in their portfolio.
• Adobe reported quarterly earnings of $5.06 EPS, exceeding estimates of $4.97, with revenue of $5.87 billion, marking a **10.6% year-over-year** increase.
• Several brokerages have updated their ratings on Adobe, with **Wells Fargo** setting a new target price of $470, while Bank of America raised their target to $475, maintaining a buy rating.

Paloma Partners Management Co lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 59.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,900 shares of the software company's stock after selling 27,520 shares during the quarter. Adobe comprises about 0.9% of Paloma Partners Management Co's holdings, making the stock its 23rd biggest holding. Paloma Partners Management Co's holdings in Adobe were worth $7,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Siemens Fonds Invest GmbH increased its stake in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe in the first quarter valued at $26,000. SWAN Capital LLC acquired a new position in Adobe in the fourth quarter valued at $28,000. Copia Wealth Management acquired a new position in Adobe in the 4th quarter valued at $28,000. Finally, HHM Wealth Advisors LLC acquired a new position in Adobe in the 1st quarter valued at $30,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADBE shares. Citigroup dropped their price target on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. DA Davidson reiterated a "buy" rating and set a $500.00 price target on shares of Adobe in a research note on Friday, June 20th. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $452.67.

Adobe Price Performance

Shares of ADBE stock traded up $4.66 during trading hours on Friday, hitting $348.97. The company's stock had a trading volume of 4,661,454 shares, compared to its average volume of 3,273,635. The business has a fifty day moving average of $360.40 and a 200-day moving average of $383.12. The stock has a market cap of $148.03 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 1.63 and a beta of 1.48. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $587.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current 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.