Adobe Inc. $ADBE Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 560 shares of the software company’s stock after selling 84 shares during the period. Global Trust Asset Management LLC’s holdings in Adobe were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. lifted its position in shares of Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. raised its stake in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after acquiring an additional 26 shares in the last quarter. Ted Buchan & Co increased its stake in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares during the period. Lifeworks Advisors LLC increased its stake in Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its stake in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $359.42 on Tuesday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $355.08 and a 200-day moving average of $373.36. The firm has a market cap of $150.45 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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%. The business’s revenue for the quarter 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. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Robert W. Baird boosted their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Evercore ISI dropped their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Finally, Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

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.