WD Rutherford LLC Trims Stake in Adobe Inc. $ADBE

WD Rutherford LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,048 shares of the software company’s stock after selling 159 shares during the period. WD Rutherford LLC’s holdings in Adobe were worth $3,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1248 Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe during the 1st quarter valued at approximately $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe during the 1st quarter valued at approximately $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of Adobe stock opened at $360.37 on Friday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The stock has a market capitalization of $150.85 billion, a P/E ratio of 22.45, a PEG ratio of 1.62 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. The business’s fifty day moving average price is $355.25 and its 200 day moving average price is $373.63.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 analysts’ expectations of $5.91 billion. During the same quarter last year, the firm earned $4.65 earnings per share. 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, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several analyst reports. Evercore ISI reduced their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. BMO Capital Markets reduced their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, June 13th. Finally, Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.