Profit Investment Management LLC Cuts Position in Adobe Inc. $ADBE

Key Points

• Profit Investment Management LLC reduced its stake in Adobe Inc. by 61.1% during the second quarter, leaving it with 546 shares valued at $211,000.
• Adobe reported $5.31 earnings per share for the most recent quarter, exceeding analysts' expectations of $5.18, alongside a revenue of $5.99 billion.
• Analysts have mixed ratings on Adobe, with target prices ranging from $280 to $475, reflecting a consensus average target of $435.63.

Profit Investment Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 61.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 546 shares of the software company's stock after selling 858 shares during the period. Profit Investment Management LLC's holdings in Adobe were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Orin Green Financial LLC lifted its stake in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its stake in Adobe by 2.9% in 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 during the last quarter. GS Investments Inc. lifted its stake in Adobe by 0.3% in 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 during the last quarter. Ted Buchan & Co lifted its stake in Adobe by 1.9% in 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 during the last quarter. Finally, Lifeworks Advisors LLC lifted its stake in Adobe by 3.6% in 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 during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.4%

Shares of NASDAQ:ADBE opened at $365.90 on Friday. The stock's 50-day moving average price is $355.88 and its 200-day moving average price is $376.47. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market capitalization of $155.21 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.91 billion. During the same period last year, the firm earned $4.65 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on ADBE. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research report on Friday, September 12th. Bank of America increased their target price on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $470.00 target price (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $435.63.

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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