Oppenheimer Asset Management Inc. Trims Stake in Adobe Inc. $ADBE

Oppenheimer Asset Management Inc. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,620 shares of the software company’s stock after selling 6,126 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Adobe were worth $30,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the first quarter worth $30,000. Finally, Nexus Investment Management ULC bought a new stake in Adobe in the second quarter worth $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.2%

Shares of ADBE stock opened at $353.52 on Friday. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $351.71 and its 200 day moving average is $368.92. The stock has a market capitalization of $147.98 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.58 and a beta of 1.49.

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 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 analysts’ expectations of $5.91 billion. During the same quarter last year, the company posted $4.65 earnings per share. The firm’s quarterly revenue 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. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of several recent research reports. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. JMP Securities reissued a “market perform” rating on shares of Adobe 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. Finally, TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus 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.