Adobe Inc. $ADBE Shares Sold by United Asset Strategies Inc.

Key Points

• United Asset Strategies Inc. reduced its stake in Adobe Inc. by 3.5%, selling 1,161 shares, which brought its total holdings to 32,027 shares valued at approximately $12.28 million.
• Several institutional investors, including Vanguard and Goldman Sachs, have increased their investments in Adobe, with Goldman Sachs raising its stake by 68.3% in the first quarter.
• Wall Street analysts have mixed views on Adobe, with target price adjustments that include a decrease from Citigroup and an upgrade from Wall Street Zen, leading to an average target price of $467.58.

United Asset Strategies Inc. reduced its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,027 shares of the software company's stock after selling 1,161 shares during the period. United Asset Strategies Inc.'s holdings in Adobe were worth $12,283,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its stake in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after buying an additional 821,293 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after buying an additional 600,146 shares during the last quarter. Northern Trust Corp grew its holdings in Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock valued at $2,363,125,000 after buying an additional 672,919 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADBE shares. Citigroup decreased their target price on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus cut their target price on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given 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 an average rating of "Moderate Buy" and an average target price of $467.58.

Adobe Price Performance

Adobe stock opened at $353.43 on Thursday. The firm has a fifty day moving average of $368.37 and a 200-day moving average of $391.09. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $149.93 billion, a P/E ratio of 22.61, a PEG ratio of 1.71 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the prior year, the company earned $4.48 EPS. The firm's revenue was up 10.6% on a year-over-year basis. 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, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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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