Nova Wealth Management Inc. Decreases Position in Adobe Inc. $ADBE

Nova Wealth Management Inc. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 37.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306 shares of the software company’s stock after selling 183 shares during the quarter. Nova Wealth Management Inc.’s holdings in Adobe were worth $118,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Adobe by 2.4% in the first 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 valued at $2,097,289,000 after buying an additional 126,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Adobe by 12.7% in the fourth 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 valued at $2,375,345,000 after buying an additional 600,146 shares during the last quarter. Finally, Amundi lifted its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.3%

NASDAQ:ADBE opened at $349.36 on Monday. The stock has a fifty day moving average price of $357.32 and a two-hundred day moving average price of $378.97. The stock has a market capitalization of $148.20 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 earnings per share. 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADBE shares. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Wells Fargo & Company restated an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays upped their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group cut their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.63.

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.