Mezzasalma Advisors LLC Has $1.26 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Mezzasalma Advisors LLC reduced its stake in Adobe Inc. by 26.1% during the second quarter, holding 3,254 shares worth approximately $1.26 million as per the latest SEC filing.
• Several analysts downgraded their ratings on Adobe, with price targets cut from $470 to $400, while the stock currently holds an average rating of "Hold" with a target price of $433.41.
• Adobe's latest earnings report showed a 10.7% year-over-year increase in revenue, reporting $5.31 EPS, which exceeded the consensus estimate of $5.18.

Mezzasalma Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,254 shares of the software company's stock after selling 1,152 shares during the quarter. Mezzasalma Advisors LLC's holdings in Adobe were worth $1,259,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADBE. 1248 Management LLC acquired a new stake in Adobe in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the first quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter valued at about $30,000. Finally, Nexus Investment Management ULC acquired a new stake in Adobe during the second quarter worth about $31,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADBE shares. TD Cowen cut their price target on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research report on Saturday. Citigroup lowered their price target on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Mizuho downgraded shares of Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Finally, DA Davidson reiterated a "buy" rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of "Hold" and an average target price of $433.41.

Adobe Stock Up 1.2%

Shares of NASDAQ:ADBE opened at $333.26 on Friday. The company's fifty day moving average is $350.99 and its 200-day moving average is $368.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The company has a market capitalization of $139.50 billion, a PE ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 30.01% and a return on equity of 57.54%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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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