Broderick Brian C Sells 335 Shares of Adobe Inc. $ADBE

Broderick Brian C cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,625 shares of the software company’s stock after selling 335 shares during the quarter. Broderick Brian C’s holdings in Adobe were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ADBE. Brighton Jones LLC lifted its stake in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Adobe by 4.4% during the 1st quarter. Wedge Capital Management L L P NC now owns 859 shares of the software company’s stock valued at $329,000 after acquiring an additional 36 shares during the period. Courier Capital LLC grew its position in Adobe by 16.0% during the 1st quarter. Courier Capital LLC now owns 579 shares of the software company’s stock worth $222,000 after acquiring an additional 80 shares during the last quarter. Range Financial Group LLC bought a new position in Adobe during the 1st quarter worth approximately $219,000. Finally, Farther Finance Advisors LLC lifted its position in Adobe by 8.5% in the first quarter. Farther Finance Advisors LLC now owns 9,557 shares of the software company’s stock valued at $3,662,000 after purchasing an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.5%

NASDAQ ADBE opened at $348.31 on Wednesday. The firm has a market capitalization of $145.80 billion, a PE ratio of 21.70, a P/E/G ratio of 1.57 and a beta of 1.49. The stock’s 50 day moving average is $352.39 and its 200 day moving average is $371.72. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. 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 (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, topping 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 business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The firm’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. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on ADBE shares. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. BMO Capital Markets decreased their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Saturday, September 27th. Finally, Stifel Nicolaus lowered their price target on 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 issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.