Folger Nolan Fleming Douglas Capital Management Inc. Sells 355 Shares of Adobe Inc. $ADBE

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,406 shares of the software company’s stock after selling 355 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Adobe were worth $5,187,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the first quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the first quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the first quarter valued at about $34,000. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ADBE. Bank of America upped their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Oppenheimer lowered their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Finally, BMO Capital Markets lowered their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

ADBE stock opened at $337.51 on Friday. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a market cap of $141.28 billion, a P/E ratio of 21.03, a PEG ratio of 1.56 and a beta of 1.49. The firm has a 50-day moving average of $351.67 and a 200 day moving average of $370.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. Adobe’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. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS 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.