Northstar Asset Management Inc. Decreases Position in Adobe Inc. $ADBE

Key Points

• Northstar Asset Management Inc. reduced its stake in Adobe Inc. by 17.1% during the second quarter, holding 11,818 shares worth approximately $4.57 million.
• Adobe's quarterly earnings exceeded analysts' expectations, reporting $5.31 EPS and $5.99 billion in revenue, marking a year-over-year revenue growth of 10.7%.
• Analyst ratings for Adobe are varied, with one analyst rating it as a Strong Buy, while others have set target prices ranging from $280.00 to $500.00.

Northstar Asset Management Inc. decreased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,818 shares of the software company's stock after selling 2,445 shares during the period. Northstar Asset Management Inc.'s holdings in Adobe were worth $4,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Schmidt P J Investment Management Inc. boosted its holdings in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. GS Investments Inc. boosted its holdings in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after purchasing an additional 26 shares in the last quarter. Ted Buchan & Co boosted its holdings in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock valued at $525,000 after purchasing an additional 26 shares in the last quarter. Lifeworks Advisors LLC boosted its holdings in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. boosted its holdings in Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock valued at $209,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Down 0.2%

Adobe stock opened at $353.52 on Friday. The firm has a 50-day moving average of $351.71 and a 200-day moving average of $368.72. Adobe Inc. has a one year low of $327.50 and a one year 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 1.02. The company has a market cap of $147.98 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49.

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, topping analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company 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 business posted $4.65 EPS. The company's quarterly revenue 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, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen reduced their target price on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. 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. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Finally, Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

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.