Mission Creek Capital Partners Inc. Sells 1,199 Shares of Adobe Inc. $ADBE

Key Points

• Mission Creek Capital Partners Inc. reduced its Adobe Inc. stock holdings by 22.7% in the first quarter, now owning 4,092 shares valued at approximately $1.57 million.
• Adobe reported a quarterly revenue of $5.87 billion, surpassing analysts' expectations, with earnings per share reaching $5.06.
• The average analyst rating for Adobe is currently a Moderate Buy, with a consensus price target set at $467.58.

Mission Creek Capital Partners Inc. trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,092 shares of the software company's stock after selling 1,199 shares during the period. Mission Creek Capital Partners Inc.'s holdings in Adobe were worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after buying an additional 600,146 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Adobe by 6.8% in the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company's stock worth $1,432,680,000 after buying an additional 238,542 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 0.8%

Shares of NASDAQ:ADBE traded up $2.74 during trading on Friday, reaching $356.70. The company's stock had a trading volume of 2,637,158 shares, compared to its average volume of 3,666,279. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The firm's 50 day simple moving average is $363.93 and its two-hundred day simple moving average is $386.47. The stock has a market capitalization of $151.31 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the firm earned $4.48 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADBE shares. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Stifel Nicolaus cut their price target on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research note on Friday, June 13th. Oppenheimer cut their price target on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research note on Friday, June 13th. Finally, Melius downgraded shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given 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 $466.42.

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.