Adobe Inc. $ADBE Stock Holdings Reduced by Forbes J M & Co. LLP

Forbes J M & Co. LLP cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 76.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,383 shares of the software company’s stock after selling 23,672 shares during the period. Forbes J M & Co. LLP’s holdings in Adobe were worth $2,856,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ADBE. 1248 Management LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new stake in shares of Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe during the 1st quarter worth about $30,000. Finally, Garde Capital Inc. acquired a new position in shares of Adobe during the 1st quarter valued at about $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADBE shares. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Citigroup cut their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $352.75 on Wednesday. The firm’s 50-day moving average is $354.68 and its 200-day moving average is $373.21. The company has a market cap of $147.66 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.61 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm’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. Equities research analysts anticipate 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.