Three Bridge Wealth Advisors LLC Sells 737 Shares of Adobe Inc. $ADBE

Three Bridge Wealth Advisors LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 52.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 666 shares of the software company’s stock after selling 737 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in Adobe were worth $258,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in shares of Adobe during the first quarter valued at approximately $34,000. PFG Advisors grew its stake in shares of Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the last quarter. Krane Funds Advisors LLC grew its stake in shares of Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after buying an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of Adobe during the first quarter valued at approximately $305,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of analyst reports. Bank of America upped their target price on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Barclays boosted their price target on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

Shares of ADBE opened at $346.74 on Friday. The business’s 50-day moving average is $353.22 and its two-hundred day moving average is $372.26. The company has a market capitalization of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. 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 Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company posted $4.65 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

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.