Mutual Advisors LLC Has $5.86 Million Holdings in Adobe Inc. $ADBE

Mutual Advisors LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,817 shares of the software company’s stock after selling 116 shares during the quarter. Mutual Advisors LLC’s holdings in Adobe were worth $5,864,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after buying an additional 126,688 shares in the last quarter. Amundi raised its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADBE. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Citigroup dropped their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Piper Sandler dropped their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and dropped their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets dropped their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 1.6%

Shares of NASDAQ ADBE opened at $330.63 on Thursday. The firm has a market capitalization of $138.40 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $329.20 and a 1 year high of $557.90. The firm’s 50-day moving average is $351.33 and its 200-day moving average is $369.58.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 quarter last year, the firm earned $4.65 EPS. Adobe’s quarterly 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 analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.