Atria Wealth Solutions Inc. Sells 8,432 Shares of Adobe Inc. $ADBE

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Adobe Inc. by 58.2%, selling 8,432 shares in the latest quarter, leaving them with 6,068 shares valued at approximately $2.34 million.
• Adobe reported a quarterly EPS of $5.31, surpassing analysts' expectations of $5.18, with a revenue of $5.99 billion compared to an anticipated $5.91 billion.
• Several research firms have recently downgraded their price targets for Adobe, with Evercore ISI reducing it from $475.00 to $450.00, while Morgan Stanley dropped their target from $520.00 to $450.00.

Atria Wealth Solutions Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 58.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,068 shares of the software company's stock after selling 8,432 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Adobe were worth $2,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its stake in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC raised its holdings in shares of Adobe by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock valued at $2,991,000 after acquiring an additional 1,422 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Adobe by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company's stock valued at $44,283,000 after acquiring an additional 4,306 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Adobe in the 1st quarter valued at about $1,725,000. Finally, Hemenway Trust Co LLC raised its holdings in shares of Adobe by 5.1% in the 1st quarter. Hemenway Trust Co LLC now owns 12,804 shares of the software company's stock valued at $4,911,000 after acquiring an additional 618 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of Adobe stock opened at $330.63 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The business's 50 day simple moving average is $351.33 and its two-hundred day simple moving average is $369.58. The stock has a market capitalization of $138.40 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. Adobe Inc. has a one year low of $329.20 and a one year high of $557.90.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADBE. Evercore ISI lowered their price target on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. UBS Group lowered their price target on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday, September 12th. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a report on Friday, September 12th. Morgan Stanley downgraded Adobe from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Adobe in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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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