Adobe Inc. $ADBE Stock Holdings Lessened by First Merchants Corp

First Merchants Corp trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,890 shares of the software company’s stock after selling 274 shares during the quarter. First Merchants Corp’s holdings in Adobe were worth $5,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ADBE. Garde Capital Inc. bought a new position in Adobe during the first quarter valued at approximately $34,000. PFG Advisors raised its position in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its position in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after acquiring an additional 730 shares in the last quarter. Financial Counselors Inc. raised its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in Adobe during the first quarter valued at approximately $305,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADBE shares. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Stifel Nicolaus cut their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, June 13th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Bank of America lifted their price target on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Finally, TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Up 0.1%

Shares of Adobe stock opened at $348.77 on Thursday. The company’s fifty day simple moving average is $352.08 and its 200-day simple moving average is $371.56. The company has a market cap of $146.00 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $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, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.