Balboa Wealth Partners Sells 4,510 Shares of Adobe Inc. $ADBE

Key Points

• Balboa Wealth Partners significantly reduced its Adobe holdings by 74.9%, selling 4,510 shares and retaining only 1,510 shares, valued at $584,000.
• Various hedge funds increased or established positions in Adobe, with institutional investors now owning 81.79% of the company's stock.
• Analysts have varied opinions on Adobe's stock, with a consensus rating of "Hold" and price targets ranging from $280 to $460.

Balboa Wealth Partners decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 74.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,510 shares of the software company's stock after selling 4,510 shares during the quarter. Balboa Wealth Partners' holdings in Adobe were worth $584,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new stake in Adobe during the 1st quarter valued at approximately $34,000. PFG Advisors lifted its position in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after acquiring an additional 855 shares during the period. Krane Funds Advisors LLC lifted its position in shares of Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after acquiring an additional 730 shares during the period. Financial Counselors Inc. lifted its position in shares of Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after acquiring an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $305,000. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the subject of a number of research reports. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research report on Thursday, September 11th. Redburn Atlantic downgraded 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 research report on Wednesday, July 2nd. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Trading Up 3.0%

ADBE stock opened at $343.40 on Tuesday. The business has a fifty day moving average price of $351.18 and a 200 day moving average price of $368.72. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The stock has a market capitalization of $143.75 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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 return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the firm posted $4.65 EPS. The business'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. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal 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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