Financial Advocates Investment Management Sells 1,085 Shares of Adobe Inc. $ADBE

Financial Advocates Investment Management cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 36.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,909 shares of the software company’s stock after selling 1,085 shares during the period. Financial Advocates Investment Management’s holdings in Adobe were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Adobe Stock Performance

NASDAQ:ADBE opened at $317.52 on Thursday. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $557.90. The stock has a fifty day moving average price of $341.32 and a 200-day moving average price of $363.71. 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 company has a market cap of $132.91 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $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. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 price target on shares of Adobe in a research report on Wednesday, October 29th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Royal Bank Of Canada lowered their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. Finally, UBS Group reduced their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $428.96.

Adobe 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.