Bar Harbor Wealth Management Lowers Stock Holdings in Adobe Inc. $ADBE

Bar Harbor Wealth Management trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,045 shares of the software company’s stock after selling 73 shares during the quarter. Bar Harbor Wealth Management’s holdings in Adobe were worth $3,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the first quarter valued at approximately $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the first quarter valued at approximately $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 0.1%

Shares of NASDAQ ADBE opened at $348.77 on Thursday. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $352.08 and its two-hundred day simple moving average is $371.56. The stock has a market capitalization of $146.00 billion, a P/E ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. The business’s quarterly revenue 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. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADBE shares. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. UBS Group lowered their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Melius downgraded shares of 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. Finally, Robert W. Baird raised their target price on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.