Parkside Investments LLC Lowers Position in Adobe Inc. $ADBE

Key Points

• Parkside Investments LLC reduced its stake in Adobe Inc. by 50.0% during the second quarter, now holding 1,000 shares worth approximately $387,000.
• Adobe recently reported earnings of $5.31 EPS for the quarter, which exceeded expectations of $5.18 EPS, alongside a revenue of $5.99 billion.
• Wall Street analysts have varied ratings on Adobe's stock, with an average target price of $433.41, indicating a mix of sentiment including one Strong Buy, thirteen Buy, and three Sell ratings.

Parkside Investments LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 50.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,000 shares of the software company's stock after selling 1,000 shares during the period. Parkside Investments LLC's holdings in Adobe were worth $387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in Adobe in the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the first quarter worth about $34,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Down 0.3%

NASDAQ:ADBE opened at $359.42 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a market cap of $150.45 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The company has a 50 day simple moving average of $355.08 and a two-hundred day simple moving average of $373.36.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results 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 business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm's 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. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Piper Sandler lowered their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday, September 12th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, TD Cowen lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued 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 target price of $433.41.

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.

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