Adobe Inc. $ADBE Shares Sold by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. reduced its stake in Adobe Inc. by 25.1%, selling 13,620 shares, bringing its total holdings to 40,729 shares valued at approximately $15.76 million.
• Adobe reported $5.31 earnings per share for its most recent quarter, exceeding analysts' expectations, and indicated a 10.7% year-over-year revenue increase to $5.99 billion.
• Analysts have mixed ratings on Adobe's stock, with a consensus rating of "Hold" and an average price target of $433.41, while some have downgraded their ratings and price objectives significantly.

Phoenix Financial Ltd. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,729 shares of the software company's stock after selling 13,620 shares during the quarter. Phoenix Financial Ltd.'s holdings in Adobe were worth $15,758,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter valued at $30,000. Finally, Nexus Investment Management ULC acquired a new position in shares of Adobe during the second quarter valued at $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $343.40 on Tuesday. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. 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 company has a market capitalization of $143.75 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.49 and a beta of 1.49. The firm has a 50-day moving average of $351.18 and a two-hundred day moving average of $368.72.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. Adobe's revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ADBE shares. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. TD Cowen reduced their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Royal Bank Of Canada reduced their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. 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. According to data from MarketBeat, Adobe presently has a consensus rating of "Hold" and an average target price 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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