Synovus Financial Corp Lowers Stock Position in Adobe Inc. $ADBE

Key Points

• Synovus Financial Corp has reduced its stake in Adobe Inc. by 13.0%, owning 29,105 shares worth approximately $11.16 million after selling 4,359 shares in the first quarter.
• Adobe reported earnings of $5.06 per share for the latest quarter, exceeding estimates, with revenue of $5.87 billion that was up 10.6% year-over-year.
• Analyst ratings for Adobe show mixed sentiments, with two analysts giving a Strong Buy rating, while several set target prices ranging from $310.00 to $475.00.

Synovus Financial Corp lessened its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,105 shares of the software company's stock after selling 4,359 shares during the quarter. Synovus Financial Corp's holdings in Adobe were worth $11,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its stake in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the 1st quarter worth approximately $26,000. SWAN Capital LLC bought a new stake in Adobe in the 4th quarter worth approximately $28,000. Copia Wealth Management bought a new stake in Adobe in the 4th quarter worth approximately $28,000. Finally, HHM Wealth Advisors LLC bought a new stake in Adobe in the 1st quarter worth approximately $30,000. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of ADBE stock opened at $362.09 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $587.75. The stock has a 50 day moving average price of $366.57 and a two-hundred day moving average price of $389.64. The company has a market capitalization of $153.60 billion, a P/E ratio of 23.17, a PEG ratio of 1.72 and a beta of 1.51.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $4.48 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADBE. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Robert W. Baird boosted their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Bank of America boosted 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, Oppenheimer dropped their target price on Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and an average target price of $467.58.

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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