Adobe Inc. $ADBE Shares Sold by Fox Hill Wealth Management

Fox Hill Wealth Management decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 18.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,164 shares of the software company’s stock after selling 259 shares during the quarter. Fox Hill Wealth Management’s holdings in Adobe were worth $450,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its position in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after buying an additional 126,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock worth $2,375,345,000 after buying an additional 600,146 shares during the period. Finally, Amundi raised its position in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADBE. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Finally, Bank of America raised their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.63.

Adobe Stock Down 0.3%

Shares of NASDAQ ADBE opened at $349.36 on Friday. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $357.32 and its 200-day simple moving average is $379.37.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 56.30% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The company’s revenue for the quarter 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. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.