Broderick Brian C Sells 335 Shares of Adobe Inc. $ADBE

Broderick Brian C decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 17.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,625 shares of the software company’s stock after selling 335 shares during the period. Broderick Brian C’s holdings in Adobe were worth $629,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Vanguard Group Inc. lifted its position in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after purchasing an additional 126,688 shares during the period. Amundi increased its stake in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Adobe by 68.3% in the first 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 period. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 0.5%

Shares of NASDAQ ADBE opened at $348.31 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average of $352.39 and a 200-day moving average of $371.72. The firm has a market capitalization of $145.80 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.57 and a beta of 1.49. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its 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 net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous 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. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADBE shares. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Barclays raised their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Bank of America boosted their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Finally, Rothschild & Co Redburn cut Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target on the stock. in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.41.

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.