Adobe Inc. $ADBE Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its position in Adobe Inc. (NASDAQ:ADBE) by 15.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,250 shares of the software company’s stock after selling 5,959 shares during the period. TIAA Trust National Association’s holdings in Adobe were worth $12,477,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $25,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the 1st quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe during the 1st quarter worth $30,000. Nexus Investment Management ULC purchased a new position in Adobe during the 2nd quarter worth $31,000. Finally, Cornerstone Planning Group LLC increased its stake in Adobe by 128.6% in the first quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock valued at $39,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. DA Davidson reiterated a “buy” rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Finally, Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Up 0.3%

Adobe stock opened at $340.31 on Monday. The stock’s 50 day moving average price is $350.67 and its 200 day moving average price is $368.89. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The company has a market cap of $142.45 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. 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 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 company 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% compared to the same quarter last year. During the same quarter 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 predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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.