Adobe Inc. $ADBE Stake Lessened by Shorepath Capital Management LLC

Shorepath Capital Management LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 46.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,031 shares of the software company’s stock after selling 5,320 shares during the period. Adobe makes up 1.9% of Shorepath Capital Management LLC’s portfolio, making the stock its 17th biggest position. Shorepath Capital Management LLC’s holdings in Adobe were worth $2,333,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Adobe by 13.9% in the first quarter. Koshinski Asset Management Inc. now owns 2,835 shares of the software company’s stock worth $1,087,000 after acquiring an additional 347 shares during the last quarter. JNBA Financial Advisors increased its stake in shares of Adobe by 360.0% in the first quarter. JNBA Financial Advisors now owns 115 shares of the software company’s stock worth $44,000 after acquiring an additional 90 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Adobe by 946.2% in the first quarter. Salomon & Ludwin LLC now owns 136 shares of the software company’s stock worth $52,000 after acquiring an additional 123 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in shares of Adobe by 93.4% in the first quarter. Clear Creek Financial Management LLC now owns 2,448 shares of the software company’s stock worth $939,000 after acquiring an additional 1,182 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Piper Sandler lowered their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research report on Monday, August 11th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Down 6.1%

Shares of NASDAQ:ADBE opened at $337.86 on Thursday. The company has a market cap of $141.43 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.61 and a beta of 1.49. The stock’s 50-day moving average is $351.39 and its 200-day moving average is $368.87. Adobe Inc. has a 52-week low of $327.50 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. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $4.65 earnings per share. 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.