United Asset Strategies Inc. trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,364 shares of the software company's stock after selling 5,852 shares during the period. Adobe accounts for about 1.1% of United Asset Strategies Inc.'s holdings, making the stock its 28th biggest holding. United Asset Strategies Inc.'s holdings in Adobe were worth $14,127,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Riverbend Wealth Management LLC lifted its position in Adobe by 1.8% during the third quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company's stock worth $588,000 after buying an additional 29 shares in the last quarter. Beacon Financial Advisory LLC grew its holdings in Adobe by 5.5% in the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company's stock valued at $204,000 after buying an additional 30 shares in the last quarter. MCF Advisors LLC grew its holdings in Adobe by 20.8% in the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company's stock valued at $61,000 after buying an additional 30 shares in the last quarter. Brookwood Investment Group LLC increased its stake in shares of Adobe by 4.4% in the 3rd quarter. Brookwood Investment Group LLC now owns 734 shares of the software company's stock worth $259,000 after acquiring an additional 31 shares during the last quarter. Finally, New Republic Capital LLC increased its stake in shares of Adobe by 5.6% in the 3rd quarter. New Republic Capital LLC now owns 582 shares of the software company's stock worth $205,000 after acquiring an additional 31 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.
Key Adobe News
Here are the key news stories impacting Adobe this week:
Insider Activity at Adobe
In related news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares of the company's stock, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.
Adobe Stock Up 3.5%
Shares of ADBE opened at $255.94 on Thursday. The firm has a market cap of $103.45 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.52. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $422.95. The company's 50-day moving average price is $252.69 and its 200 day moving average price is $301.21. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm posted $5.08 earnings per share. Adobe's revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current year.
Adobe announced that its board has initiated a stock buyback plan on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
ADBE has been the topic of several recent research reports. BMO Capital Markets lowered their price target on shares of Adobe from $375.00 to $285.00 and set a "market perform" rating on the stock in a research report on Friday, March 13th. Citigroup reaffirmed a "neutral" rating on shares of Adobe in a research note on Friday, April 10th. Morgan Stanley decreased their target price on shares of Adobe from $425.00 to $365.00 and set an "equal weight" rating on the stock in a report on Friday, March 13th. Stifel Nicolaus dropped their price target on shares of Adobe from $450.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Finally, BTIG Research began coverage on shares of Adobe in a research report on Monday, April 13th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $339.88.
Read Our Latest Report on Adobe
Adobe Profile
(
Free Report)
Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.
The company's core offerings are organized around digital media and digital experience.
Featured Stories
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