Mezzasalma Advisors LLC Sells 1,152 Shares of Adobe Inc. $ADBE

Mezzasalma Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 26.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,254 shares of the software company’s stock after selling 1,152 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Adobe were worth $1,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 308.1% during 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 purchasing an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi raised its position in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADBE shares. BMO Capital Markets decreased their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Piper Sandler reduced their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. TD Cowen cut their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Finally, Evercore ISI reduced their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Up 1.2%

Shares of NASDAQ ADBE opened at $333.26 on Friday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $139.50 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. The firm has a 50 day moving average price of $350.99 and a 200 day moving average price of $368.75.

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

About Adobe

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.