Drive Wealth Management LLC Reduces Stake in Adobe Inc. $ADBE

Drive Wealth Management LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 7.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,772 shares of the software company’s stock after selling 211 shares during the period. Drive Wealth Management LLC’s holdings in Adobe were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC bought a new position in Adobe in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the 1st quarter worth $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the 1st quarter worth $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the 1st quarter worth $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe in the 2nd quarter worth $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays raised their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $433.41.

Adobe Price Performance

NASDAQ:ADBE opened at $333.26 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $350.99 and its two-hundred day simple moving average is $368.76. The stock has a market cap of $139.50 billion, a PE ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm 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. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.