Adobe Inc. $ADBE Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,708 shares of the software company’s stock after selling 852 shares during the quarter. Hartford Investment Management Co.’s holdings in Adobe were worth $9,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copia Wealth Management acquired a new stake in Adobe during the 4th quarter worth $28,000. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the 1st quarter worth $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe during the 1st quarter worth $29,000. Finally, HHM Wealth Advisors LLC purchased a new position in Adobe during the 1st quarter worth $30,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 0.3%

Shares of NASDAQ:ADBE opened at $354.16 on Friday. The company has a market cap of $150.23 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.58 and a beta of 1.48. The firm’s 50-day simple moving average is $355.36 and its 200-day simple moving average is $374.59. 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 fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last issued 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 business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the topic of several research reports. Mizuho lowered their price objective on shares of Adobe from $530.00 to $460.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. Wells Fargo & Company reissued an “overweight” rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. TD Cowen lowered their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $433.41.

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.