Bar Harbor Wealth Management Sells 73 Shares of Adobe Inc. $ADBE

Bar Harbor Wealth Management decreased its position in Adobe Inc. (NASDAQ:ADBE) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,045 shares of the software company’s stock after selling 73 shares during the period. Bar Harbor Wealth Management’s holdings in Adobe were worth $3,886,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. boosted its holdings in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares in the last quarter. Nuveen LLC bought a new stake in Adobe in the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after acquiring an additional 1,216,351 shares in the last quarter. Finally, Amundi boosted its holdings in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $348.77 on Thursday. The stock 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 firm’s 50-day moving average is $352.08 and its 200 day moving average is $371.56. Adobe Inc. has a 1 year low of $330.04 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.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADBE. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday. UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and an average target price of $433.41.

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.