Astoria Portfolio Advisors LLC. Lowers Holdings in Adobe Inc. $ADBE

Astoria Portfolio Advisors LLC. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,844 shares of the software company’s stock after selling 87 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Adobe were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the first quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter worth $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe in the first quarter worth $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $337.51 on Monday. The stock’s 50-day simple moving average is $351.67 and its 200-day simple moving average is $370.41. 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 $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. 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 announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. 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, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of several research analyst reports. UBS Group cut their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Evercore ISI cut their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

About Adobe

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.