Adobe Inc. $ADBE Stock Holdings Lessened by IFP Advisors Inc

Key Points

• IFP Advisors Inc has reduced its stake in Adobe Inc. by 31.4%, selling 1,834 shares and holding a total of 4,014 shares valued at approximately $1,554,000.
• Multiple hedge funds have altered their positions in Adobe, with Callan Family Office LLC increasing its stake by 80.8% to own 17,945 shares worth about $6,943,000.
• Adobe's recent performance showed earnings per share (EPS) of $5.31, surpassing estimates, with a revenue of $5.99 billion for the quarter, reflecting a 10.7% year-over-year growth.

IFP Advisors Inc trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,014 shares of the software company's stock after selling 1,834 shares during the quarter. IFP Advisors Inc's holdings in Adobe were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Callan Family Office LLC lifted its position in shares of Adobe by 80.8% in the second quarter. Callan Family Office LLC now owns 17,945 shares of the software company's stock worth $6,943,000 after purchasing an additional 8,020 shares in the last quarter. Court Place Advisors LLC increased its holdings in Adobe by 6.8% in the second quarter. Court Place Advisors LLC now owns 5,427 shares of the software company's stock worth $2,100,000 after buying an additional 345 shares during the last quarter. Boomfish Wealth Group LLC increased its holdings in Adobe by 17.5% in the second quarter. Boomfish Wealth Group LLC now owns 6,122 shares of the software company's stock worth $2,368,000 after buying an additional 912 shares during the last quarter. Leo Wealth LLC increased its holdings in Adobe by 241.2% in the second quarter. Leo Wealth LLC now owns 3,473 shares of the software company's stock worth $1,344,000 after buying an additional 2,455 shares during the last quarter. Finally, Copperwynd Financial LLC increased its holdings in Adobe by 20.1% in the second quarter. Copperwynd Financial LLC now owns 4,480 shares of the software company's stock worth $1,733,000 after buying an additional 751 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley downgraded Adobe from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Piper Sandler dropped their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a report on Friday, September 12th. UBS Group dropped their price objective on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday, September 12th. Citigroup dropped their price objective on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a report on Wednesday. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $433.41.

Adobe Trading Down 2.9%

Shares of ADBE stock opened at $337.51 on Friday. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $351.67 and its two-hundred day moving average is $370.59. The company has a market cap of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company 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. Equities 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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