Greenleaf Trust Lowers Stock Holdings in Adobe Inc. $ADBE

Key Points

• Greenleaf Trust reduced its stake in Adobe Inc. by 1.7%, owning 47,112 shares worth approximately $18.2 million after selling 800 shares during the second quarter.
• Adobe recently reported quarterly earnings of $5.31 per share, exceeding analysts' expectations, with revenue reaching $5.99 billion, marking a 10.7% increase year-over-year.
• Wall Street analysts have varied opinions on Adobe, with ratings ranging from "Strong Buy" to "Sell," and an average price target of $433.41.

Greenleaf Trust lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,112 shares of the software company's stock after selling 800 shares during the period. Greenleaf Trust's holdings in Adobe were worth $18,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Brighton Jones LLC increased its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Adobe by 8.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,933 shares of the software company's stock valued at $741,000 after purchasing an additional 143 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in Adobe by 1.8% in the first quarter. Douglas Lane & Associates LLC now owns 3,310 shares of the software company's stock worth $1,269,000 after buying an additional 58 shares during the last quarter. NBC Securities Inc. raised its holdings in Adobe by 121,740.0% in the first quarter. NBC Securities Inc. now owns 6,092 shares of the software company's stock worth $2,336,000 after buying an additional 6,087 shares during the last quarter. Finally, Fragasso Financial Advisors Inc lifted its stake in shares of Adobe by 534.4% in the first quarter. Fragasso Financial Advisors Inc now owns 4,390 shares of the software company's stock worth $1,684,000 after buying an additional 3,698 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADBE. Evercore ISI reduced 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. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a research note on Wednesday, July 2nd. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Finally, Bank of America boosted their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of "Hold" and an average price target of $433.41.

Adobe Stock Down 0.3%

Adobe stock opened at $359.42 on Tuesday. The stock has a market cap of $150.45 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average of $355.08 and a 200 day moving average of $373.36. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $4.65 EPS. The business's quarterly 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, sell-side analysts predict that Adobe Inc. will post 16.65 EPS 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.

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