AlphaStar Capital Management LLC Lowers Stake in Adobe Inc. $ADBE

AlphaStar Capital Management LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,870 shares of the software company’s stock after selling 644 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Adobe were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 1248 Management LLC purchased a new position in Adobe in the 1st quarter valued at about $25,000. Flaharty Asset Management LLC purchased a new position in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe in the 1st quarter valued at about $30,000. Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter valued at about $31,000. Finally, Cornerstone Planning Group LLC lifted its stake in Adobe by 128.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock valued at $39,000 after buying an additional 63 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. Barclays set a $465.00 price target on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer decreased their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Piper Sandler decreased their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Finally, Cowen reissued a “hold” rating on shares of Adobe in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Up 0.3%

ADBE opened at $340.31 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day simple moving average is $350.67 and its two-hundred day simple moving average is $368.59. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The firm has a market capitalization of $142.45 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.

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, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm 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. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal 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.