NorthRock Partners LLC Has $2.15 Million Stake in Adobe Inc. $ADBE

NorthRock Partners LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 15.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,567 shares of the software company’s stock after selling 1,015 shares during the period. NorthRock Partners LLC’s holdings in Adobe were worth $2,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADBE. Vanguard Group Inc. boosted its position in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 worth $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% 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 worth $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi boosted its position in 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 during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position 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 worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. UBS Group dropped their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada dropped their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 2.9%

NASDAQ:ADBE opened at $337.51 on Monday. The company has a market cap of $141.28 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49. The stock’s fifty day moving average price is $351.67 and its two-hundred day moving average price is $370.41. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior 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. 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.