Sitrin Capital Management LLC Has $292,000 Holdings in Adobe Inc. $ADBE

Sitrin Capital Management LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 754 shares of the software company’s stock after selling 43 shares during the period. Sitrin Capital Management LLC’s holdings in Adobe were worth $292,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Garde Capital Inc. acquired a new position in shares of Adobe in the first quarter valued at about $34,000. PFG Advisors grew its stake in shares of Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after acquiring an additional 730 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in Adobe during the first quarter worth about $305,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADBE shares. UBS Group reduced their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Barclays increased their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Finally, Bank of America increased their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. One 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, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Up 0.1%

ADBE stock opened at $348.77 on Thursday. The stock has a market capitalization of $146.00 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. 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 Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a 50-day moving average price of $352.08 and a 200-day moving average price of $371.56.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business 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, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.