Austin Private Wealth LLC Sells 221 Shares of Adobe Inc. $ADBE

Austin Private Wealth LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 20.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 867 shares of the software company’s stock after selling 221 shares during the quarter. Austin Private Wealth LLC’s holdings in Adobe were worth $336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter valued at $25,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the 1st quarter worth $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe in the 1st quarter worth $30,000. Nexus Investment Management ULC purchased a new stake in shares of Adobe in the 2nd quarter worth $31,000. Finally, Abound Financial LLC purchased a new stake in shares of Adobe in the 1st quarter worth $40,000. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADBE. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Sunday. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. One 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 6.1%

Shares of Adobe stock opened at $337.86 on Thursday. The firm has a market cap of $141.43 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.61 and a beta of 1.49. The business has a 50-day moving average price of $351.39 and a 200-day moving average price of $368.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 earnings per share. 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 anticipate 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.