Burr Financial Services LLC Cuts Position in Adobe Inc. $ADBE

Key Points

• Burr Financial Services LLC reduced its holdings in Adobe Inc. by 44.6% in the second quarter, now holding 1,087 shares worth approximately $421,000.
• Adobe reported Q3 earnings of $5.31 per share, exceeding analysts' expectations, with revenue rising 10.7% year-over-year to $5.99 billion.
• Several hedge funds have increased their positions in Adobe, with 81.79% of the company's stock being owned by institutional investors.

Burr Financial Services LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 44.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,087 shares of the software company's stock after selling 875 shares during the period. Adobe makes up about 0.4% of Burr Financial Services LLC's investment portfolio, making the stock its 23rd largest position. Burr Financial Services LLC's holdings in Adobe were worth $421,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH raised its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares during the period. 1248 Management LLC purchased a new position in Adobe in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the first quarter valued at approximately $26,000. SWAN Capital LLC purchased a new position in Adobe in the fourth quarter valued at approximately $28,000. Finally, Copia Wealth Management purchased a new position in Adobe in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.6%

Shares of NASDAQ:ADBE opened at $347.10 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $356.72 and a 200 day simple moving average of $378.33. The firm has a market cap of $147.24 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADBE shares. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a report on Friday, June 13th. Mizuho dropped their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Finally, Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $435.63.

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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