Eads & Heald Wealth Management Sells 725 Shares of Adobe Inc. $ADBE

Key Points

• Eads & Heald Wealth Management reduced its stake in Adobe Inc. by 19.7%, selling 725 shares to hold a total of 2,951 shares valued at approximately $1.14 million.
• Adobe recently saw analysts adjust their price targets, with Bank of America increasing theirs from $424 to $475, while Redburn downgraded it from $420 to $280.
• The company's latest earnings report showed a 10.7% revenue increase year-over-year, with an earnings per share of $5.31, exceeding estimates by $0.13.

Eads & Heald Wealth Management decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,951 shares of the software company's stock after selling 725 shares during the quarter. Eads & Heald Wealth Management's holdings in Adobe were worth $1,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Garde Capital Inc. acquired a new stake in Adobe in the 1st quarter worth $34,000. PFG Advisors grew its position in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after buying an additional 855 shares in the last quarter. Krane Funds Advisors LLC increased its stake in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock valued at $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 and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. Bank of America upped their target price on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Stifel Nicolaus lowered their target price 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. Evercore ISI dropped their price target on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a research report on Friday, September 12th. Finally, Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and decreased their price objective for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Down 1.3%

Shares of ADBE opened at $346.74 on Monday. The stock's fifty day simple moving average is $353.22 and its 200-day simple moving average is $372.14. The firm has a market capitalization of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. 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 quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 period in the prior year, the business posted $4.65 earnings per share. Adobe's revenue 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. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

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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