Greenleaf Trust Sells 800 Shares of Adobe Inc. $ADBE

Greenleaf Trust lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 47,112 shares of the software company’s stock after selling 800 shares during the quarter. Greenleaf Trust’s holdings in Adobe were worth $18,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after acquiring an additional 171,547 shares during the period. Bank of New York Mellon Corp increased its stake in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 in the last quarter. Amundi raised its position in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Adobe by 68.3% during 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 buying an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $359.42 on Tuesday. 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 Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The business has a 50 day simple moving average of $355.08 and a two-hundred day simple moving average of $373.36. The stock has a market capitalization of $150.45 billion, a PE ratio of 22.39, a P/E/G ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADBE. Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. BMO Capital Markets decreased their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Evercore ISI reduced their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $433.41.

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.