Insight Inv LLC Sells 7,137 Shares of Adobe Inc. $ADBE

Insight Inv LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 91.9% during the second quarter, HoldingsChannel reports. The firm owned 626 shares of the software company’s stock after selling 7,137 shares during the quarter. Insight Inv LLC’s holdings in Adobe were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Tectonic Advisors LLC raised its stake in shares of Adobe by 7.8% during the 2nd quarter. Tectonic Advisors LLC now owns 7,222 shares of the software company’s stock worth $2,794,000 after purchasing an additional 524 shares during the period. Maryland State Retirement & Pension System raised its stake in Adobe by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 20,686 shares of the software company’s stock valued at $8,003,000 after acquiring an additional 299 shares during the period. Clear Creek Financial Management LLC raised its stake in Adobe by 33.6% in the 2nd quarter. Clear Creek Financial Management LLC now owns 3,270 shares of the software company’s stock valued at $1,265,000 after acquiring an additional 822 shares during the period. H&H Retirement Design & Management INC raised its stake in Adobe by 5.3% in the 2nd quarter. H&H Retirement Design & Management INC now owns 1,262 shares of the software company’s stock valued at $464,000 after acquiring an additional 64 shares during the period. Finally, Shariaportfolio Inc. raised its stake in Adobe by 2.1% in the 2nd quarter. Shariaportfolio Inc. now owns 6,666 shares of the software company’s stock valued at $2,579,000 after acquiring an additional 139 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.1%

ADBE stock opened at $348.77 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $146.00 billion, a PE ratio of 21.73, a PEG ratio of 1.56 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 50-day simple moving average of $352.08 and a two-hundred day simple moving average of $371.56.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research note on Friday, June 13th. Royal Bank Of Canada lowered their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. UBS Group lowered their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. DA Davidson restated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Finally, Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.