Park Place Capital Corp Sells 163 Shares of Adobe Inc. $ADBE

Park Place Capital Corp lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 17.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 769 shares of the software company’s stock after selling 163 shares during the quarter. Park Place Capital Corp’s holdings in Adobe were worth $302,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADBE. 1248 Management LLC bought a new position in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the first quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe during the first quarter worth approximately $34,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADBE shares. Royal Bank Of Canada decreased their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Stifel Nicolaus cut their price target on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Citigroup cut their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their target price for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, Piper Sandler reduced their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 1.9%

Adobe stock opened at $352.75 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm has a 50 day moving average of $354.68 and a 200 day moving average of $373.21. The firm has a market capitalization of $147.66 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48.

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 analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm 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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.