Robertson Stephens Wealth Management LLC Trims Stock Holdings in Adobe Inc. $ADBE

Robertson Stephens Wealth Management LLC decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,914 shares of the software company’s stock after selling 489 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Adobe were worth $1,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe in the first quarter worth about $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $337.51 on Friday. The firm has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.56 and a beta of 1.49. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The business has a 50 day simple moving average of $351.67 and a 200-day simple moving average of $370.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADBE. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $433.41.

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.