Adobe Inc. $ADBE Shares Sold by Prentice Wealth Management LLC

Prentice Wealth Management LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 19.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,303 shares of the software company’s stock after selling 322 shares during the period. Prentice Wealth Management LLC’s holdings in Adobe were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Amundi raised its position in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $354.12 on Friday. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The business’s fifty day moving average price is $351.74 and its two-hundred day moving average price is $368.63. The firm has a market capitalization of $148.23 billion, a PE ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company earned $4.65 earnings per share. The firm’s revenue for the quarter 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, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of several research reports. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. UBS Group dropped their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Barclays upped their price target on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. One research 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 given a Sell rating to the company. According to MarketBeat.com, Adobe has an average rating of “Hold” and an average 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.