Quilter Plc Cuts Stake in Adobe Inc. $ADBE

Quilter Plc lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,634 shares of the software company’s stock after selling 2,628 shares during the quarter. Quilter Plc’s holdings in Adobe were worth $11,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. 1248 Management LLC bought a new position in Adobe during the 1st quarter worth approximately $25,000. LSV Asset Management boosted its stake in shares of Adobe by 350.0% during the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the period. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new stake in Adobe during the 2nd quarter valued at $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Barclays set a $465.00 price objective on Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler decreased their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 2.0%

Shares of Adobe stock opened at $318.11 on Thursday. Adobe Inc. has a 1 year low of $315.17 and a 1 year high of $557.90. The firm has a market cap of $133.16 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.51 and a beta of 1.48. The company has a 50-day moving average of $344.71 and a 200 day moving average of $365.98. 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 (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The business’s revenue 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. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe 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 transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.