Archford Capital Strategies LLC Sells 309 Shares of Adobe Inc. $ADBE

Archford Capital Strategies LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 22.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,042 shares of the software company’s stock after selling 309 shares during the period. Archford Capital Strategies LLC’s holdings in Adobe were worth $403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Assenagon Asset Management S.A. lifted its position in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. raised 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 valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new position in Adobe in the 1st quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi raised its position in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several research analyst reports. Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Robert W. Baird lifted their price objective on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Finally, JMP Securities reiterated 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, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Down 0.3%

ADBE stock opened at $359.42 on Tuesday. The company has a market cap of $150.45 billion, a P/E ratio of 22.39, a PEG ratio of 1.62 and a beta of 1.48. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $355.08 and a 200-day moving average of $373.36.

Adobe (NASDAQ:ADBE) last released its 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The firm’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. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.