Meritage Portfolio Management Sells 2,325 Shares of Adobe Inc. $ADBE

Key Points

• Meritage Portfolio Management reduced its Adobe holdings by 8.5%, selling 2,325 shares, and now owns a total of 25,105 shares worth approximately $9.7 million.
• Adobe's stock price has recently dropped 2.9%, trading at $337.51, with a twelve-month range between $330.04 and $557.90.
• In its latest quarterly earnings report, Adobe surpassed analysts' expectations, posting $5.31 earnings per share against an anticipated $5.18, along with revenue growth of 10.7% year-over-year.

Meritage Portfolio Management reduced its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,105 shares of the software company's stock after selling 2,325 shares during the quarter. Meritage Portfolio Management's holdings in Adobe were worth $9,713,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi increased its stake in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 2.9%

ADBE stock opened at $337.51 on Friday. Adobe Inc. has a twelve month low of $330.04 and a twelve 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. The firm has a market cap of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The business has a 50 day moving average of $351.67 and a 200 day moving average of $370.59.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company earned $4.65 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. 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 forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Barclays increased their target price on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. 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. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe 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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