Adobe Inc. $ADBE Stock Position Lessened by Benchstone Capital Management LP

Key Points

• Benchstone Capital Management LP reduced its stake in Adobe Inc. by 7.6%, selling 3,439 shares, and now holds 42,066 shares worth approximately $16.13 million.
• Analysts have varying ratings on Adobe, with a consensus average rating of "Moderate Buy" and a target price of $466.42, as well as notable price target adjustments from different firms.
• Adobe reported strong earnings of $5.06 per share, exceeding estimates, and a revenue of $5.87 billion for the last quarter, marking a 10.6% year-over-year increase.

Benchstone Capital Management LP decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,066 shares of the software company's stock after selling 3,439 shares during the quarter. Adobe makes up approximately 1.7% of Benchstone Capital Management LP's holdings, making the stock its 26th largest holding. Benchstone Capital Management LP's holdings in Adobe were worth $16,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH lifted its stake in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC acquired a new position in Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management acquired a new stake in Adobe in the fourth quarter valued at approximately $28,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of analyst reports. Mizuho dropped their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus dropped their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Wall Street Zen lowered shares of Adobe from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. UBS Group cut their target price on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. Finally, Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $459.52.

Adobe Stock Performance

Shares of ADBE stock traded up $2.87 on Wednesday, hitting $348.50. 3,006,178 shares of the stock traded hands, compared to its average volume of 3,750,448. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $147.83 billion, a PE ratio of 22.30, a PEG ratio of 1.69 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. The company's fifty day moving average is $362.73 and its 200 day moving average is $384.96.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The business's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.48 EPS. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.