Jag Capital Management LLC Lowers Stake in Adobe Inc. $ADBE

Jag Capital Management LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,953 shares of the software company’s stock after selling 149 shares during the period. Jag Capital Management LLC’s holdings in Adobe were worth $3,464,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ADBE. Verdence Capital Advisors LLC boosted its position in Adobe by 20.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,862 shares of the software company’s stock valued at $1,881,000 after buying an additional 833 shares during the period. Wealth Architects LLC grew its stake in Adobe by 9.8% in the second quarter. Wealth Architects LLC now owns 1,096 shares of the software company’s stock worth $424,000 after purchasing an additional 98 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Adobe by 17.1% in the second quarter. Sequoia Financial Advisors LLC now owns 10,063 shares of the software company’s stock worth $3,893,000 after purchasing an additional 1,473 shares in the last quarter. Vest Financial LLC increased its holdings in Adobe by 41.4% during the 2nd quarter. Vest Financial LLC now owns 6,359 shares of the software company’s stock worth $2,460,000 after purchasing an additional 1,862 shares during the period. Finally, Montrusco Bolton Investments Inc. raised its position in Adobe by 27.2% during the 2nd quarter. Montrusco Bolton Investments Inc. now owns 421,023 shares of the software company’s stock valued at $160,325,000 after purchasing an additional 89,993 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.5%

NASDAQ:ADBE opened at $339.32 on Tuesday. The stock has a market capitalization of $142.04 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $351.68 and a 200 day moving average of $370.09.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company earned $4.65 earnings per share. 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ADBE shares. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Oppenheimer cut their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. DA Davidson reissued a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.