Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Sells 6,353 Shares of Adobe Inc. $ADBE

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 33.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,888 shares of the software company’s stock after selling 6,353 shares during the quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s holdings in Adobe were worth $4,989,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the first quarter worth $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the first quarter worth $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe in the second quarter worth $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADBE. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Royal Bank Of Canada decreased their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. UBS Group decreased their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. 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 issued a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Up 0.0%

Shares of ADBE opened at $354.12 on Friday. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a market cap of $148.23 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 1.49. 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 company’s fifty day simple moving average is $351.74 and its 200-day simple moving average is $368.63.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The business’s revenue for the quarter 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, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.