Adobe Inc. $ADBE Shares Sold by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,232 shares of the software company’s stock after selling 105 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Adobe were worth $477,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. 1248 Management LLC purchased a new stake in Adobe during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the 1st quarter valued at $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the 1st quarter worth $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe in the 1st quarter valued at $30,000. Finally, Garde Capital Inc. purchased a new position in Adobe in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.0%

ADBE opened at $350.14 on Tuesday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. 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 stock has a market capitalization of $146.57 billion, a PE ratio of 21.82, a P/E/G ratio of 1.55 and a beta of 1.49. The firm’s fifty day moving average price is $352.83 and its 200 day moving average price is $371.88.

Adobe (NASDAQ:ADBE) last released its earnings results 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several analyst reports. BMO Capital Markets decreased their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Bank of America upped their price target on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Rothschild & Co Redburn lowered 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. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Adobe 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.