Harbor Investment Advisory LLC Trims Holdings in Adobe Inc. $ADBE

Harbor Investment Advisory LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 5.1% during the second quarter, Holdings Channel.com reports. The fund owned 556 shares of the software company’s stock after selling 30 shares during the period. Harbor Investment Advisory LLC’s holdings in Adobe were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kera Capital Partners Inc. purchased a new stake in shares of Adobe in the 2nd quarter valued at approximately $445,000. Private Client Services LLC purchased a new stake in shares of Adobe in the 2nd quarter valued at approximately $296,000. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Adobe in the 1st quarter valued at approximately $6,674,000. Voya Investment Management LLC raised its stake in shares of Adobe by 80.2% in the 1st quarter. Voya Investment Management LLC now owns 246,390 shares of the software company’s stock valued at $94,498,000 after acquiring an additional 109,641 shares during the period. Finally, Guinness Asset Management LTD raised its stake in shares of Adobe by 5.3% in the 1st quarter. Guinness Asset Management LTD now owns 88,006 shares of the software company’s stock valued at $33,755,000 after acquiring an additional 4,413 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 0.3%

NASDAQ ADBE opened at $349.36 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The stock has a market capitalization of $148.20 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. The firm has a 50 day moving average of $357.32 and a two-hundred day moving average of $378.97.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The firm’s revenue 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. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADBE. Robert W. Baird boosted their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday. Citigroup dropped their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Evercore ISI dropped their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given 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 “Moderate Buy” and a consensus price target of $435.63.

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.