Adobe Inc. $ADBE Shares Sold by Zhang Financial LLC

Zhang Financial LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,531 shares of the software company’s stock after selling 126 shares during the period. Zhang Financial LLC’s holdings in Adobe were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new position in Adobe in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in Adobe in the 1st quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe in the 1st quarter worth about $30,000. Finally, Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter worth about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Cowen dropped their price target on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Oppenheimer dropped their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. UBS Group dropped their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Piper Sandler decreased their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, JMP Securities restated a “market perform” rating 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 given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Up 0.6%

Shares of NASDAQ ADBE opened at $359.91 on Wednesday. The firm has a market capitalization of $150.66 billion, a PE ratio of 22.42, a PEG ratio of 1.60 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 one year low of $327.50 and a one year high of $557.90. The business has a 50-day moving average price of $351.70 and a two-hundred day moving average price of $368.98.

Adobe (NASDAQ:ADBE) last announced 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 business had revenue of $5.99 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $4.65 EPS. 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, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.