Adobe Inc. $ADBE Shares Sold by Figure 8 Investment Strategies LLC

Figure 8 Investment Strategies LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,619 shares of the software company’s stock after selling 103 shares during the quarter. Adobe comprises approximately 1.7% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 22nd biggest holding. Figure 8 Investment Strategies LLC’s holdings in Adobe were worth $1,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Adobe during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe in the 1st quarter worth $26,000. Flaharty Asset Management LLC acquired a new position in Adobe in the 1st quarter worth $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe in the 1st quarter worth $30,000. Finally, Garde Capital Inc. acquired a new position in Adobe in the 1st quarter worth $34,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $346.74 on Friday. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. The company has a 50-day moving average price of $353.22 and a two-hundred day moving average price of $372.37.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. Adobe’s quarterly 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. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADBE. DA Davidson reiterated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Bank of America boosted their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and dropped their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently 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.