Envestnet Portfolio Solutions Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,484 shares of the software company's stock after selling 3,805 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Adobe were worth $9,472,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Garde Capital Inc. acquired a new position in Adobe during the first quarter worth approximately $34,000. PFG Advisors increased 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 during the last quarter. Krane Funds Advisors LLC increased its position in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. increased its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after buying an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Adobe during the first quarter worth approximately $305,000. Institutional investors and hedge funds own 81.79% of the company's stock.
Adobe Trading Up 0.5%
Shares of ADBE stock opened at $339.32 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $142.04 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The stock has a 50 day simple moving average of $351.68 and a 200 day simple moving average of $370.09. Adobe Inc. has a 1 year low of $330.04 and a 1 year 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, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ADBE has been the topic of a number of recent analyst reports. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. Finally, UBS Group reduced their price objective on Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $433.41.
View Our Latest Stock Report on ADBE
About Adobe
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Adobe, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adobe wasn't on the list.
While Adobe currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
