True Wealth Design LLC Lowers Stock Holdings in Adobe Inc. $ADBE

True Wealth Design LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 65.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102 shares of the software company’s stock after selling 191 shares during the quarter. True Wealth Design LLC’s holdings in Adobe were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. Summit Investment Advisors Inc. increased its stake in shares of Adobe by 0.9% during the 1st quarter. Summit Investment Advisors Inc. now owns 24,824 shares of the software company’s stock valued at $9,521,000 after acquiring an additional 225 shares during the last quarter. One Wealth Capital Management LLC boosted its position in shares of Adobe by 16.2% in the second quarter. One Wealth Capital Management LLC now owns 2,906 shares of the software company’s stock worth $1,124,000 after acquiring an additional 406 shares during the last quarter. AE Wealth Management LLC grew its holdings in Adobe by 14.0% in the second quarter. AE Wealth Management LLC now owns 31,593 shares of the software company’s stock valued at $12,223,000 after purchasing an additional 3,883 shares during the period. Paradigm Asset Management Co. LLC grew its holdings in Adobe by 57.1% in the second quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the software company’s stock valued at $213,000 after purchasing an additional 200 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Adobe during the second quarter worth approximately $761,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADBE shares. 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. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Barclays set a $465.00 price target on Adobe and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $326.95 on Friday. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The business has a 50-day moving average of $348.22 and a 200-day moving average of $368.22. 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 company has a market capitalization of $136.86 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The business 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 company’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $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. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.