QTR Family Wealth LLC Sells 70 Shares of Adobe Inc. $ADBE

QTR Family Wealth LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% during the 2nd quarter, Holdings Channel reports. The fund owned 1,524 shares of the software company’s stock after selling 70 shares during the period. QTR Family Wealth LLC’s holdings in Adobe were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC bought a new position in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter worth about $30,000. Finally, Garde Capital Inc. bought a new position in Adobe during the first quarter worth about $34,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADBE. Bank of America increased their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a research report on Wednesday, July 2nd. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 1.9%

ADBE stock opened at $352.75 on Wednesday. The company has a market capitalization of $147.66 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.48. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company’s 50 day moving average price is $354.68 and its two-hundred day moving average price is $373.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly 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 firm 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 revenue 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, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.