Putney Financial Group LLC Sells 50 Shares of Adobe Inc. $ADBE

Putney Financial Group LLC reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056 shares of the software company’s stock after selling 50 shares during the quarter. Putney Financial Group LLC’s holdings in Adobe were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Adobe by 14.4% during the first 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 purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Adobe by 2.4% in the first 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 worth $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi boosted its holdings in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 0.4%

Shares of NASDAQ:ADBE opened at $339.24 on Friday. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The company has a market cap of $142.01 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The stock has a 50 day moving average of $351.10 and a 200 day moving average of $368.67. 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 (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 30.01% and a return on equity of 57.54%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior 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. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Finally, DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $433.41.

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.