Synergy Asset Management LLC Reduces Stock Holdings in Adobe Inc. $ADBE

Key Points

• Synergy Asset Management LLC significantly reduced its stake in Adobe Inc. by 81.8% in Q2, now holding only 6,869 shares valued at $2.65 million.
• Several analysts have downgraded Adobe's stock ratings and lowered price targets, with consensus now set at $433.41, indicating a mixed outlook from various institutions.
• Adobe recently reported a 10.7% year-over-year revenue increase with earnings per share of $5.31, surpassing analyst estimates, and set future EPS guidance for fiscal year 2025 between 20.800-20.850.

Synergy Asset Management LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 81.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,869 shares of the software company's stock after selling 30,965 shares during the quarter. Synergy Asset Management LLC's holdings in Adobe were worth $2,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new stake in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter worth $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the first quarter worth $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the first quarter worth $34,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rothschild & Co Redburn lowered Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research report on Wednesday, July 2nd. Morgan Stanley cut Adobe from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Oppenheimer lowered their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Piper Sandler lowered their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. Finally, Citigroup lowered their price objective on Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Trading Up 2.3%

Shares of NASDAQ:ADBE opened at $351.48 on Friday. The company has a market cap of $147.13 billion, a P/E ratio of 21.90, a PEG ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The stock's fifty day moving average price is $353.70 and its 200-day moving average price is $372.68.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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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