Independent Solutions Wealth Management LLC Sells 917 Shares of Adobe Inc. $ADBE

Key Points

• Independent Solutions Wealth Management LLC reduced its stake in Adobe Inc. by 28.2%, selling 917 shares and holding 2,333 shares valued at $903,000.
• Adobe's quarterly earnings exceeded expectations with $5.31 EPS and revenue of $5.99 billion, which is a 10.7% year-over-year increase.
• Wall Street analysts show a mix of ratings for Adobe, with bank analysts setting targets ranging from $280.00 to $475.00, indicating varying sentiments on the stock's future performance.

Independent Solutions Wealth Management LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,333 shares of the software company's stock after selling 917 shares during the quarter. Independent Solutions Wealth Management LLC's holdings in Adobe were worth $903,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADBE. Garde Capital Inc. bought a new position in shares of Adobe in the 1st quarter valued at about $34,000. PFG Advisors grew its stake in shares of 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 purchasing an additional 855 shares during the period. Krane Funds Advisors LLC grew its stake in shares of 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 purchasing an additional 730 shares during the period. Financial Counselors Inc. increased its holdings in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Adobe in the first quarter valued at about $305,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research report on Wednesday, July 2nd. Stifel Nicolaus lowered their price target on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. TD Cowen dropped their price target on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research note on Friday, September 12th. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Finally, Bank of America lifted their target price on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research report on Friday, June 13th. One 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 stock. Based on data from MarketBeat, Adobe currently has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $350.14 on Tuesday. The firm has a market capitalization of $146.57 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The firm's fifty day moving average price is $352.83 and its two-hundred day moving average price is $371.88. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during 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 business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business 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. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS 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.

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.