Prosperity Consulting Group LLC Sells 835 Shares of Adobe Inc. $ADBE

Prosperity Consulting Group LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,459 shares of the software company’s stock after selling 835 shares during the period. Prosperity Consulting Group LLC’s holdings in Adobe were worth $1,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Assenagon Asset Management S.A. raised its stake in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. raised its stake in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC bought a new stake in Adobe in the first quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi raised its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $335.35 on Wednesday. The stock’s fifty day moving average price is $349.76 and its two-hundred day moving average price is $368.72. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. 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 firm has a market cap of $140.38 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 analyst estimates of $5.91 billion. During the same quarter last year, the company earned $4.65 EPS. The company’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, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ADBE. TD Cowen dropped their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Sunday, October 26th. Finally, Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price 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.