Adobe Inc. $ADBE Shares Sold by GWN Securities Inc.

GWN Securities Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 88.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 886 shares of the software company’s stock after selling 6,584 shares during the quarter. GWN Securities Inc.’s holdings in Adobe were worth $346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. PFG Advisors grew its holdings in Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in shares of Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after purchasing an additional 730 shares in the last quarter. Mcdaniel Terry & Co. lifted its position in shares of Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after purchasing an additional 1,093 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC purchased a new position in Adobe in the second quarter valued at $328,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $337.86 on Thursday. The stock 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. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The stock has a 50 day moving average of $351.39 and a two-hundred day moving average of $368.87. 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 announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same period in the previous year, the company posted $4.65 EPS. The company’s quarterly revenue 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. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Redburn Partners set a $280.00 price objective on Adobe in a research report on Monday, September 1st. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Oppenheimer lowered their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and an average price target of $433.41.

About Adobe

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.