Sovran Advisors LLC Sells 261 Shares of Adobe Inc. $ADBE

Sovran Advisors LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,773 shares of the software company’s stock after selling 261 shares during the quarter. Sovran Advisors LLC’s holdings in Adobe were worth $1,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after purchasing an additional 39,888 shares during the period. 1248 Management LLC acquired a new position in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe during the first quarter worth about $26,000. SWAN Capital LLC acquired a new position in Adobe during the fourth quarter worth about $28,000. Finally, Copia Wealth Management acquired a new position in Adobe during the fourth quarter worth about $28,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ADBE shares. TD Cowen lowered their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and lowered their target price for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Evercore ISI lowered their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Performance

Adobe stock opened at $367.46 on Friday. The business has a 50 day moving average of $355.83 and a 200-day moving average of $377.53. Adobe Inc. has a 1 year low of $330.04 and a 1 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 0.99. The company has a market capitalization of $155.88 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.