Washington Trust Advisors Inc. Sells 238 Shares of Adobe Inc. $ADBE

Washington Trust Advisors Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 76.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 74 shares of the software company’s stock after selling 238 shares during the period. Washington Trust Advisors Inc.’s holdings in Adobe were worth $29,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PFG Advisors lifted its holdings in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares during the period. Krane Funds Advisors LLC lifted its holdings in Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after buying an additional 730 shares during the period. Financial Counselors Inc. lifted its holdings in Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after buying an additional 5,298 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $328,000. Finally, Koss Olinger Consulting LLC purchased a new stake in Adobe in the 1st quarter worth approximately $305,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ADBE shares. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. TD Cowen decreased their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Friday. Finally, Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 0.2%

ADBE stock opened at $353.52 on Friday. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. The business has a 50 day moving average of $351.71 and a 200 day moving average of $368.72.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company earned $4.65 EPS. The firm’s revenue for the quarter 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. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.