Sagespring Wealth Partners LLC Sells 995 Shares of Adobe Inc. $ADBE

Key Points

• Sagespring Wealth Partners LLC reduced its stake in Adobe Inc. by 22.9%, selling 995 shares during the 2nd quarter, bringing its total holdings to 3,341 shares valued at approximately $1.3 million.
• Adobe reported a quarterly earnings per share of $5.31, exceeding analysts' expectations of $5.18, and recorded a 10.7% year-over-year revenue growth to $5.99 billion.
• Currently, 81.79% of Adobe's stock is held by institutional investors and hedge funds, highlighting strong institutional interest in the company.

Sagespring Wealth Partners LLC lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,341 shares of the software company's stock after selling 995 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Adobe were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in ADBE. Schmidt P J Investment Management Inc. increased its holdings 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 period. GS Investments Inc. grew its position in shares of Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co increased its stake in shares of 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 buying an additional 26 shares during the period. Lifeworks Advisors LLC lifted its stake in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. lifted its stake in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after acquiring an additional 27 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE stock opened at $335.94 on Wednesday. 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's 50-day moving average is $351.63 and its 200-day moving average is $369.85. The stock has a market capitalization of $140.62 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping 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 business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the business earned $4.65 EPS. The firm's revenue for the quarter 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. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ADBE. Weiss Ratings reissued a "hold (c-)" rating on shares of Adobe in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a report on Friday, September 12th. TD Cowen decreased their price target on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Finally, Oppenheimer lowered their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $433.41.

About Adobe

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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