Alta Capital Management LLC Sells 13,392 Shares of Adobe Inc. $ADBE

Alta Capital Management LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,884 shares of the software company’s stock after selling 13,392 shares during the period. Adobe makes up about 2.4% of Alta Capital Management LLC’s holdings, making the stock its 17th largest holding. Alta Capital Management LLC’s holdings in Adobe were worth $41,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the first quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the first quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe during the first quarter valued at about $30,000. Finally, Nexus Investment Management ULC purchased a new stake in Adobe during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 1.6%

NASDAQ ADBE opened at $330.63 on Thursday. The business’s 50-day moving average is $351.33 and its 200 day moving average is $369.58. 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 $138.40 billion, a PE ratio of 20.60, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 1 year low of $329.20 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter 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. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADBE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Evercore ISI decreased their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and decreased their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. One research 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 given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.