Envestnet Portfolio Solutions Inc. Has $9.47 Million Stock Position in Adobe Inc. $ADBE

Envestnet Portfolio Solutions Inc. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,484 shares of the software company’s stock after selling 3,805 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Adobe were worth $9,472,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC raised its position in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. GAMMA Investing LLC raised its position in Adobe by 22.3% during the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after purchasing an additional 1,422 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Adobe by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company’s stock valued at $44,283,000 after purchasing an additional 4,306 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Adobe by 17.6% during the first quarter. Sound Income Strategies LLC now owns 308 shares of the software company’s stock worth $118,000 after buying an additional 46 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC increased its holdings in shares of Adobe by 2.9% during the first quarter. Cyndeo Wealth Partners LLC now owns 7,764 shares of the software company’s stock worth $2,978,000 after buying an additional 216 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

NASDAQ ADBE opened at $339.32 on Tuesday. The company has a market capitalization of $142.04 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The stock has a fifty day simple moving average of $351.68 and a 200 day simple moving average of $370.09. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business 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% on a year-over-year basis. During the same period in the prior year, the business 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. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Robert W. Baird upped their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Citigroup lowered their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company 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, DA Davidson reiterated a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.