Meriwether Wealth & Planning LLC Sells 53 Shares of Adobe Inc. $ADBE

Meriwether Wealth & Planning LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 630 shares of the software company’s stock after selling 53 shares during the period. Meriwether Wealth & Planning LLC’s holdings in Adobe were worth $244,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Copia Wealth Management bought a new stake in Adobe in the fourth quarter worth $28,000. SWAN Capital LLC bought a new stake in Adobe in the fourth quarter worth $28,000. 1248 Management LLC bought a new stake in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter worth $26,000. Finally, Flaharty Asset Management LLC bought a new stake in Adobe in the first quarter worth $29,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $365.90 on Friday. The firm has a market cap of $155.21 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.64 and a beta of 1.48. The firm has a 50-day simple moving average of $355.88 and a two-hundred day simple moving average of $376.47. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. 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 (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Piper Sandler cut their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.