Elefante Mark B Sells 85 Shares of Adobe Inc. $ADBE

Elefante Mark B lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 9.4% in the second quarter, HoldingsChannel reports. The firm owned 816 shares of the software company’s stock after selling 85 shares during the period. Elefante Mark B’s holdings in Adobe were worth $316,000 at the end of the most recent quarter.

Other institutional investors and 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 valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter valued at about $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe in the first quarter worth about $34,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.5%

NASDAQ:ADBE opened at $339.32 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $142.04 billion, a PE ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a 50-day simple moving average of $351.68 and a 200 day simple moving average of $370.09.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $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. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. DA Davidson restated a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, September 12th. Oppenheimer lowered their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Finally, Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.