Rehmann Capital Advisory Group Sells 391 Shares of Adobe Inc. $ADBE

Rehmann Capital Advisory Group cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,599 shares of the software company’s stock after selling 391 shares during the period. Rehmann Capital Advisory Group’s holdings in Adobe were worth $1,392,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe in the second quarter worth approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. 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. Finally, BMO Capital Markets reduced their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $354.09 on Thursday. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The stock has a market capitalization of $148.22 billion, a P/E ratio of 22.06, a PEG ratio of 1.60 and a beta of 1.49. The firm has a fifty day simple moving average of $351.63 and a two-hundred day simple moving average of $368.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company 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, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.