Eagle Global Advisors LLC Sells 14,938 Shares of Adobe Inc. $ADBE

Eagle Global Advisors LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 93.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the software company’s stock after selling 14,938 shares during the period. Eagle Global Advisors LLC’s holdings in Adobe were worth $412,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe in the 1st quarter valued at about $34,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 1.8%

ADBE stock opened at $360.37 on Friday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The business’s 50 day moving average price is $355.25 and its two-hundred day moving average price is $373.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market capitalization of $150.85 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business earned $4.65 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. 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, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Bank of America boosted their target price on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Stifel Nicolaus lowered their target price on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. TD Cowen lowered their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $433.41.

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.