Pinnacle Wealth Planning Services Inc. Cuts Stock Position in Adobe Inc. $ADBE

Pinnacle Wealth Planning Services Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 22.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,739 shares of the software company’s stock after selling 503 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Adobe were worth $673,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. 1248 Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $25,000. LSV Asset Management increased its position in Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after buying an additional 56 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the first quarter valued at $30,000. Finally, Nexus Investment Management ULC purchased a new position in shares of Adobe during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $324.47 on Wednesday. The firm has a 50 day moving average of $345.35 and a 200-day moving average of $366.32. The firm has a market capitalization of $135.82 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Adobe Inc. has a 12 month low of $320.80 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.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $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. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADBE. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 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. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Oppenheimer reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was 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 in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.