Adobe Inc. $ADBE Stock Position Lowered by TBH Global Asset Management LLC

TBH Global Asset Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 6.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,458 shares of the software company’s stock after selling 166 shares during the period. TBH Global Asset Management LLC’s holdings in Adobe were worth $951,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH grew its holdings in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the 1st quarter valued at about $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $29,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $30,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 1.8%

ADBE opened at $360.37 on Friday. The firm has a market cap of $150.85 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.62 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. The business has a 50 day moving average price of $355.25 and a 200 day moving average price of $373.63. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, June 13th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $450.00 in a research note on Wednesday. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.