Atlantic Edge Private Wealth Management LLC Has $1.73 Million Holdings in Adobe Inc. $ADBE

Atlantic Edge Private Wealth Management LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,476 shares of the software company’s stock after selling 765 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Adobe were worth $1,732,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Adobe during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter worth about $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe during the second quarter worth about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and reduced their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Piper Sandler reduced their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Finally, BMO Capital Markets cut their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $343.40 on Tuesday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The firm has a market capitalization of $143.75 billion, a PE ratio of 21.40, a PEG ratio of 1.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $351.18 and its 200 day simple moving average is $368.72.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. Adobe’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, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.