Adobe Inc. $ADBE Stock Holdings Lowered by Eagle Strategies LLC

Eagle Strategies LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,529 shares of the software company’s stock after selling 143 shares during the quarter. Eagle Strategies LLC’s holdings in Adobe were worth $592,000 at the end of the most recent quarter.

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

Adobe Stock Performance

Shares of ADBE opened at $348.77 on Thursday. The company’s 50 day moving average price is $352.08 and its 200 day moving average price is $371.56. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a market capitalization of $146.00 billion, a PE ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49. 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 (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for 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 firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday. Robert W. Baird lifted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. BMO Capital Markets dropped their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $433.41.

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.