Northstar Asset Management Inc. Sells 2,445 Shares of Adobe Inc. $ADBE

Northstar Asset Management Inc. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 17.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,818 shares of the software company’s stock after selling 2,445 shares during the quarter. Northstar Asset Management Inc.’s holdings in Adobe were worth $4,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ADBE. Brighton Jones LLC raised its holdings in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. GAMMA Investing LLC raised its holdings in Adobe by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after acquiring an additional 1,422 shares during the period. Moran Wealth Management LLC raised its holdings in Adobe by 6.5% in the 1st quarter. Moran Wealth Management LLC now owns 1,402 shares of the software company’s stock valued at $538,000 after acquiring an additional 86 shares during the period. Global Assets Advisory LLC bought a new position in Adobe in the 1st quarter valued at about $217,000. Finally, Golden State Equity Partners raised its holdings in Adobe by 3.1% in the 1st quarter. Golden State Equity Partners now owns 1,065 shares of the software company’s stock valued at $408,000 after acquiring an additional 32 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Barclays increased their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a report on Monday, August 11th. Finally, Piper Sandler lowered their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 0.2%

Shares of ADBE opened at $353.52 on Friday. 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 stock has a market capitalization of $147.98 billion, a PE ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49. The firm’s 50 day moving average is $351.71 and its 200-day moving average is $368.72. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm 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. Equities research analysts forecast 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.