Annex Advisory Services LLC Sells 376 Shares of Adobe Inc. $ADBE

Annex Advisory Services LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 21.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,401 shares of the software company’s stock after selling 376 shares during the period. Annex Advisory Services LLC’s holdings in Adobe were worth $542,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH lifted its stake in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares during the period. 1248 Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC acquired a new position in shares of Adobe in the 4th quarter valued at about $28,000. Finally, Copia Wealth Management acquired a new position in shares of Adobe in the 4th quarter valued at about $28,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADBE. Barclays boosted their price objective on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Evercore ISI dropped their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. Bank of America upped their price target on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Finally, Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Performance

ADBE stock opened at $365.90 on Monday. The firm has a market cap of $155.21 billion, a PE ratio of 22.80, a P/E/G ratio of 1.64 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $355.88 and a 200-day moving average of $375.99. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company 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 expect that Adobe Inc. will post 16.65 earnings per share for the current 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.