Adobe Inc. $ADBE Shares Sold by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,325 shares of the software company’s stock after selling 121 shares during the period. Alta Wealth Advisors LLC’s holdings in Adobe were worth $512,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp increased its stake in Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Adobe by 2.4% during the 1st 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 valued at $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi grew its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $346.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The company has a 50 day moving average price of $353.22 and a two-hundred day moving average price of $372.26. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 firm had revenue of $5.99 billion during 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $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. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Oppenheimer lowered their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. TD Cowen lowered their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.