Adobe Inc. $ADBE Stock Position Lessened by Opes Wealth Management LLC

Opes Wealth Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,128 shares of the software company’s stock after selling 131 shares during the quarter. Opes Wealth Management LLC’s holdings in Adobe were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. 1248 Management LLC purchased a new stake in shares of Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe during the first quarter valued at $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe during the first quarter valued at $30,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Adobe during the second quarter valued at $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group reduced their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Finally, Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $354.12 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The stock’s 50-day moving average is $351.74 and its two-hundred day moving average is $368.63. The firm has a market cap of $148.23 billion, a P/E ratio of 22.06, a PEG ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts predict 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.