King Wealth Management Group Lowers Holdings in Adobe Inc. $ADBE

King Wealth Management Group reduced its position in Adobe Inc. (NASDAQ:ADBE) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,314 shares of the software company’s stock after selling 190 shares during the quarter. King Wealth Management Group’s holdings in Adobe were worth $508,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC increased its holdings 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 buying an additional 167 shares during the period. Edgestream Partners L.P. lifted its holdings in Adobe by 147.3% during the first quarter. Edgestream Partners L.P. now owns 3,198 shares of the software company’s stock worth $1,227,000 after buying an additional 1,905 shares during the period. Parcion Private Wealth LLC boosted its position in Adobe by 58.7% during the 1st quarter. Parcion Private Wealth LLC now owns 1,462 shares of the software company’s stock valued at $561,000 after acquiring an additional 541 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in shares of Adobe by 8.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 2,701 shares of the software company’s stock valued at $1,036,000 after acquiring an additional 205 shares during the period. Finally, Dynasty Wealth Management LLC increased its holdings in shares of Adobe by 19.6% in the 1st quarter. Dynasty Wealth Management LLC now owns 4,923 shares of the software company’s stock valued at $1,888,000 after acquiring an additional 806 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $333.60 on Friday. The firm has a market capitalization of $139.64 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company’s fifty day moving average price is $346.97 and its 200-day moving average price is $367.41. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ADBE shares. Royal Bank Of Canada dropped their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. UBS Group cut their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Adobe currently 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.