Adobe Inc. $ADBE Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,539 shares of the software company’s stock after selling 150 shares during the period. Bellevue Asset Management LLC’s holdings in Adobe were worth $595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the first quarter valued at $30,000. Finally, Garde Capital Inc. acquired a new position in Adobe during the first quarter valued at $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on ADBE. Wells Fargo & Company restated an “overweight” rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. UBS Group decreased their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Bank of America upped their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 0.5%

ADBE stock opened at $348.31 on Wednesday. The stock has a market capitalization of $145.80 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.57 and a beta of 1.49. The firm has a 50-day simple moving average of $352.39 and a 200-day simple moving average of $371.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter 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. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.