Ascent Group LLC Has $5.08 Million Stock Holdings in Adobe Inc. $ADBE

Ascent Group LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,119 shares of the software company’s stock after selling 508 shares during the quarter. Ascent Group LLC’s holdings in Adobe were worth $5,075,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ADBE. Garde Capital Inc. bought a new position in Adobe during the first quarter worth about $34,000. PFG Advisors lifted its stake in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares during the period. Krane Funds Advisors LLC lifted its stake in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares during the period. Financial Counselors Inc. lifted its stake in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC bought a new position in Adobe during the first quarter worth about $305,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADBE shares. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and cut their price target for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Wells Fargo & Company reissued an “overweight” rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Barclays boosted their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Finally, Evercore ISI reduced their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 1.3%

NASDAQ:ADBE opened at $346.74 on Friday. The stock’s fifty day moving average price is $353.22 and its two-hundred day moving average price is $372.37. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business earned $4.65 EPS. The business’s revenue for the quarter 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. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS 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.