Parcion Private Wealth LLC Decreases Stock Holdings in Adobe Inc. $ADBE

Parcion Private Wealth LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,325 shares of the software company’s stock after selling 137 shares during the quarter. Parcion Private Wealth LLC’s holdings in Adobe were worth $513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Members Trust Co purchased a new stake in Adobe in the second quarter worth $219,000. Brookstone Capital Management increased its position in Adobe by 2.3% in the second quarter. Brookstone Capital Management now owns 11,302 shares of the software company’s stock worth $4,373,000 after buying an additional 256 shares during the last quarter. Cantillon Capital Management LLC increased its position in Adobe by 7.5% in the second quarter. Cantillon Capital Management LLC now owns 856,629 shares of the software company’s stock worth $331,413,000 after buying an additional 59,743 shares during the last quarter. Citizens & Northern Corp increased its position in Adobe by 3.5% in the second quarter. Citizens & Northern Corp now owns 4,066 shares of the software company’s stock worth $1,573,000 after buying an additional 139 shares during the last quarter. Finally, Studio Investment Management LLC increased its position in Adobe by 81.9% in the second quarter. Studio Investment Management LLC now owns 3,106 shares of the software company’s stock worth $1,202,000 after buying an additional 1,398 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

NASDAQ:ADBE opened at $354.09 on Thursday. The firm has a market capitalization of $148.22 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.60 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The stock has a fifty day moving average of $351.63 and a 200 day moving average of $368.54. 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 (NASDAQ:ADBE) last issued its quarterly 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 return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The company’s revenue 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. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Citigroup reduced their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. DA Davidson reiterated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $433.41.

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.