Janney Capital Management LLC Decreases Stock Holdings in Adobe Inc. $ADBE

Janney Capital Management LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,147 shares of the software company’s stock after selling 372 shares during the quarter. Janney Capital Management LLC’s holdings in Adobe were worth $8,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Adobe by 0.4% in the first 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 raised its stake in Adobe by 14.4% in 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 buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Adobe by 2.4% in 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 valued at $2,097,289,000 after buying an additional 126,688 shares during the last quarter. Amundi raised its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in 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 buying an additional 1,856,544 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 0.3%

Adobe stock opened at $359.42 on Tuesday. The firm has a market cap of $150.45 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The business’s 50-day moving average price is $355.08 and its 200 day moving average price is $373.36. 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 (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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%.Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $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. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe 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.