Astoria Portfolio Advisors LLC. Sells 87 Shares of Adobe Inc. $ADBE

Astoria Portfolio Advisors LLC. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,844 shares of the software company’s stock after selling 87 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Adobe were worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC lifted its holdings in Adobe by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock worth $2,991,000 after purchasing an additional 1,422 shares in the last quarter. CVA Family Office LLC lifted its holdings in Adobe by 4.8% during the 1st quarter. CVA Family Office LLC now owns 1,405 shares of the software company’s stock worth $539,000 after purchasing an additional 64 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Adobe by 3.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,621 shares of the software company’s stock worth $2,539,000 after purchasing an additional 201 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Adobe by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company’s stock worth $44,283,000 after purchasing an additional 4,306 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays increased their price objective on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Morgan Stanley cut 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Down 2.9%

ADBE opened at $337.51 on Monday. The stock has a market cap of $141.28 billion, a PE ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. 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 50 day moving average of $351.67 and a 200-day moving average of $370.41. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last released 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. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $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. Equities research 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.