Bridges Investment Management Inc. Decreases Stock Position in Adobe Inc. $ADBE

Key Points

• Bridges Investment Management Inc. reduced its stake in Adobe Inc. by 1.0% during the 2nd quarter, now holding 143,223 shares valued at approximately $55.41 million.
• Adobe's recent earnings report showed an earnings per share (EPS) of $5.31, surpassing analyst estimates by $0.13, with revenue increased by 10.7% year-over-year.
• Research analysts have varying price targets for Adobe, with a consensus rating of "Hold" and an average price target of $433.41, despite some institutions downgrading their recommendations.

Bridges Investment Management Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,223 shares of the software company's stock after selling 1,381 shares during the quarter. Bridges Investment Management Inc.'s holdings in Adobe were worth $55,410,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Schmidt P J Investment Management Inc. increased its holdings in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after buying an additional 25 shares in the last quarter. GS Investments Inc. increased its holdings in Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after buying an additional 26 shares in the last quarter. Ted Buchan & Co increased its holdings in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after buying an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. increased its holdings in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock valued at $209,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADBE shares. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Evercore ISI cut their price objective on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. TD Cowen cut their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Finally, Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Stock Down 1.6%

Shares of NASDAQ ADBE opened at $330.63 on Thursday. The company's 50-day simple moving average is $351.33 and its 200-day simple moving average is $369.58. Adobe Inc. has a 52-week low of $329.20 and a 52-week high of $557.90. The firm has a market cap of $138.40 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business earned $4.65 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. 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 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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