Adobe Inc. $ADBE Shares Sold by Colonial Trust Advisors

Colonial Trust Advisors cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,465 shares of the software company’s stock after selling 404 shares during the quarter. Colonial Trust Advisors’ holdings in Adobe were worth $2,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. 1248 Management LLC acquired a new position in Adobe during the first quarter worth $25,000. LSV Asset Management increased 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 worth $28,000 after purchasing an additional 56 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the 1st quarter worth about $30,000. Finally, Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several research reports. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. DA Davidson reiterated a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Thursday, November 20th. Wells Fargo & Company reduced their price objective on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Evercore ISI dropped their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $428.96.

Adobe Price Performance

Shares of ADBE stock opened at $317.52 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. The company has a market capitalization of $132.91 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The firm’s 50-day moving average is $340.32 and its two-hundred day moving average is $363.39. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company 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 year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s 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 sale, the chief accounting officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.