Adobe Inc. $ADBE Stock Holdings Lessened by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 92.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 636 shares of the software company's stock after selling 8,282 shares during the quarter. Trifecta Capital Advisors LLC's holdings in Adobe were worth $246,000 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 ADBE. Assenagon Asset Management S.A. lifted its position in shares of Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new position in Adobe in the first quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its holdings in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective on the stock. in a report on Wednesday, July 2nd. TD Cowen dropped their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. 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. Finally, Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of "Hold" and an average target price of $433.41.

Adobe Trading Up 0.1%

Shares of Adobe stock opened at $348.77 on Thursday. The company's fifty day simple moving average is $352.08 and its 200-day simple moving average is $371.56. The company has a market cap of $146.00 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

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. As a group, sell-side analysts expect 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.

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