Fortitude Family Office LLC Sells 35 Shares of Adobe Inc. $ADBE

Fortitude Family Office LLC lessened its position in Adobe Inc. (NASDAQ:ADBE) by 18.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 152 shares of the software company’s stock after selling 35 shares during the period. Fortitude Family Office LLC’s holdings in Adobe were worth $59,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. GAMMA Investing LLC lifted its stake in shares of Adobe by 46,806.6% in the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC bought a new position in Adobe during the first quarter valued at approximately $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after purchasing an additional 1,216,351 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Evercore ISI lowered their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Citigroup lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, JMP Securities restated 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 issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Performance

ADBE opened at $361.78 on Wednesday. The stock has a market capitalization of $153.47 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.63 and a beta of 1.48. The company has a fifty day moving average of $355.77 and a 200 day moving average of $375.30. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week 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 posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last 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 forecast 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.