Wealth Advisory Solutions LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,791 shares of the software company's stock after selling 1,406 shares during the period. Wealth Advisory Solutions LLC's holdings in Adobe were worth $2,627,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH increased its holdings in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares in the last quarter. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter worth $26,000. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter worth $28,000. Finally, Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter worth $28,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ADBE shares. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday, September 12th. BMO Capital Markets lowered their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday, September 12th. TD Cowen lowered their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $435.63.
Check Out Our Latest Stock Report on ADBE
Adobe Price Performance
Shares of NASDAQ ADBE opened at $364.08 on Tuesday. The firm's 50-day moving average price is $355.82 and its 200-day moving average price is $375.39. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The firm has a market capitalization of $154.44 billion, a P/E ratio of 22.68, a P/E/G 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 for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The business's quarterly revenue 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
About Adobe
(
Free Report)
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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