Forza Wealth Management LLC Sells 47 Shares of Adobe Inc. $ADBE

Forza Wealth Management LLC decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 7.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 600 shares of the software company’s stock after selling 47 shares during the period. Forza Wealth Management LLC’s holdings in Adobe were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. lifted its stake in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. increased its position in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co raised its stake in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the period. Lifeworks Advisors LLC lifted its position in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. boosted its stake in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 1.9%

ADBE stock opened at $352.75 on Wednesday. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a market capitalization of $147.66 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.48. The company’s 50-day simple moving average is $354.68 and its 200 day simple moving average is $373.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Barclays lifted their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. UBS Group dropped their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Stifel Nicolaus reduced their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Finally, DA Davidson reiterated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.