Interchange Capital Partners LLC Decreases Stock Position in Adobe Inc. $ADBE

Interchange Capital Partners LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 12.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,774 shares of the software company’s stock after selling 263 shares during the period. Interchange Capital Partners LLC’s holdings in Adobe were worth $686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Adobe by 43.2% in the 2nd quarter. Brighton Jones LLC now owns 10,750 shares of the software company’s stock worth $4,159,000 after buying an additional 3,245 shares in the last quarter. MQS Management LLC acquired a new position in Adobe in the 2nd quarter valued at about $216,000. Ramsay Stattman Vela & Price Inc. raised its stake in Adobe by 1.0% in the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 12,090 shares of the software company’s stock valued at $4,677,000 after purchasing an additional 115 shares during the last quarter. Mcdaniel Terry & Co. raised its stake in Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares during the last quarter. Finally, SSA Swiss Advisors AG acquired a new position in Adobe in the 2nd quarter valued at about $3,608,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 0.2%

Shares of NASDAQ:ADBE opened at $353.52 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The stock has a market capitalization of $147.98 billion, a P/E ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49. The stock has a 50-day simple moving average of $351.71 and a 200-day simple moving average of $368.92.

Adobe (NASDAQ:ADBE) last issued its 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada cut their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, BMO Capital Markets dropped their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One 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. According to data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price 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.