Mogy Joel R Investment Counsel Inc. Reduces Stake in Adobe Inc. $ADBE

Key Points

• Mogy Joel R Investment Counsel Inc. reduced its stake in Adobe Inc. by 1.0%, selling 745 shares and holding 71,593 shares post-sale, valued at approximately $27.7 million.
• Institutional ownership of Adobe stock is 81.79%, with notable increases in holdings from several firms, including GAMMA Investing LLC raising its stake by 46,806.6%.
• Adobe reported $5.31 EPS for its latest quarter, beating estimates, and provided FY 2025 guidance reflecting expected growth.

Mogy Joel R Investment Counsel Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 71,593 shares of the software company's stock after selling 745 shares during the period. Adobe makes up approximately 1.6% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 22nd biggest holding. Mogy Joel R Investment Counsel Inc.'s holdings in Adobe were worth $27,698,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADBE. Garde Capital Inc. acquired a new position in Adobe in the first quarter valued at approximately $34,000. PFG Advisors lifted its stake in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after purchasing an additional 855 shares during the period. Krane Funds Advisors LLC boosted its holdings in 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 buying an additional 730 shares in the last quarter. Financial Counselors Inc. grew its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after buying an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter valued at $305,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ ADBE traded down $1.56 during mid-day trading on Friday, hitting $365.90. The stock had a trading volume of 7,675,797 shares, compared to its average volume of 4,978,333. The firm's 50 day moving average is $355.83 and its 200 day moving average is $377.53. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $155.21 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.65 and a beta of 1.48.

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

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. DA Davidson reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. TD Cowen cut their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Finally, Mizuho reduced their target price on Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $435.63.

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.