Means Investment CO. Inc. Sells 31 Shares of Adobe Inc. $ADBE

Means Investment CO. Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,620 shares of the software company’s stock after selling 31 shares during the period. Means Investment CO. Inc.’s holdings in Adobe were worth $1,014,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Adobe by 14.4% in the 1st 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 acquiring an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Adobe by 2.4% in the 1st 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 acquiring an additional 126,688 shares during the period. Amundi increased its stake in shares of Adobe by 24.7% during the 1st 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Adobe by 68.3% in the 1st 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADBE shares. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and reduced their target price for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Adobe presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

ADBE opened at $337.51 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day simple moving average of $351.67 and a 200 day simple moving average of $370.59. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm 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. Research 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.