Thrive Wealth Management LLC Reduces Holdings in Adobe Inc. $ADBE

Thrive Wealth Management LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,222 shares of the software company’s stock after selling 57 shares during the quarter. Thrive Wealth Management LLC’s holdings in Adobe were worth $473,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ADBE. Brighton Jones LLC boosted its position in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after acquiring an additional 756 shares during the last quarter. Siemens Fonds Invest GmbH boosted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Adobe by 2.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 9,460 shares of the software company’s stock worth $4,207,000 after acquiring an additional 238 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its position in Adobe by 6.8% during the fourth quarter. Vivaldi Capital Management LP now owns 551 shares of the software company’s stock worth $242,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $352.73 on Wednesday. The firm has a market cap of $149.63 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The firm has a fifty day moving average of $356.13 and a two-hundred day moving average of $378.15.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. 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, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. 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 report on Friday, September 12th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. 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 report on Monday, September 8th. Finally, Evercore ISI decreased their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Adobe Company 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.