Adobe Inc. $ADBE Stake Lessened by Ascent Group LLC

Ascent Group LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,119 shares of the software company’s stock after selling 508 shares during the period. Ascent Group LLC’s holdings in Adobe were worth $5,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. 1248 Management LLC purchased a new stake in shares of Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe during the first quarter worth $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter worth $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe during the first quarter worth $30,000. Finally, Garde Capital Inc. purchased a new stake in shares of Adobe during the first quarter worth $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADBE shares. Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Wells Fargo & Company reissued an “overweight” rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 1.3%

Shares of NASDAQ:ADBE opened at $346.74 on Friday. The company has a market cap of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49. The stock’s 50-day moving average is $353.22 and its 200-day moving average is $372.37. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 earnings per share. The firm’s 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 predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.