Adobe Inc. $ADBE Shares Sold by Focus Partners Wealth

Key Points

• Focus Partners Wealth has reduced its stake in Adobe Inc. by 42.9%, owning 44,978 shares after selling 33,753 shares during the last quarter.
• Adobe reported earnings of $5.31 per share, surpassing analyst expectations and achieving a revenue of $5.99 billion, a 10.7% increase from the previous year.
• Hedge funds and institutional investors now hold 81.79% of Adobe's shares, indicating strong institutional interest in the company.

Focus Partners Wealth trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 42.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,978 shares of the software company's stock after selling 33,753 shares during the period. Focus Partners Wealth's holdings in Adobe were worth $17,252,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Copia Wealth Management purchased a new position in shares of Adobe in the 4th quarter valued at $28,000. SWAN Capital LLC purchased a new position in shares of Adobe in the 4th quarter valued at $28,000. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $26,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $29,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ADBE shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Friday. BMO Capital Markets lowered their price objective on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research report on Friday. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Barclays raised their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $435.63.

Adobe Stock Performance

Shares of ADBE stock traded down $2.26 during mid-day trading on Monday, hitting $347.10. The stock had a trading volume of 6,760,024 shares, compared to its average volume of 3,900,378. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The firm has a market cap of $147.24 billion, a PE ratio of 21.63, a PEG ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The company's 50-day simple moving average is $357.32 and its 200-day simple moving average is $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's revenue was up 10.7% on a year-over-year basis. 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. Sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.