Weatherly Asset Management L. P. Reduces Stock Position in Adobe Inc. $ADBE

Key Points

• Weatherly Asset Management L. P. sold 763 shares of Adobe Inc., reducing its holdings by 3.0%, resulting in ownership of 25,066 shares valued at approximately $9.7 million.
• Multiple institutional investors have made adjustments to their stakes in Adobe, with hedge funds collectively owning 81.79% of the company's stock.
• Adobe recently reported earnings per share of $5.31, surpassing analysts' expectations, and provided guidance of 20.800-20.850 EPS for FY 2025.

Weatherly Asset Management L. P. lessened its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,066 shares of the software company's stock after selling 763 shares during the period. Adobe makes up about 0.8% of Weatherly Asset Management L. P.'s holdings, making the stock its 25th largest position. Weatherly Asset Management L. P.'s holdings in Adobe were worth $9,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Siemens Fonds Invest GmbH raised its stake in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the last quarter. 1248 Management LLC purchased a new position in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the first quarter valued at about $26,000. SWAN Capital LLC bought a new stake in Adobe in the 4th quarter worth about $28,000. Finally, Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ADBE. UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. Wells Fargo & Company reissued an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a research note on Wednesday, July 2nd. Evercore ISI lowered their price objective on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Finally, Barclays lifted their price target on Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Trading Down 0.5%

ADBE stock traded down $1.82 during midday trading on Monday, hitting $364.08. The company had a trading volume of 4,492,649 shares, compared to its average volume of 3,959,222. The stock has a market cap of $154.44 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $355.88 and its 200 day moving average price is $375.99.

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 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 business had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company Profile

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.