Folger Nolan Fleming Douglas Capital Management Inc. Decreases Position in Adobe Inc. $ADBE

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,406 shares of the software company’s stock after selling 355 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Adobe were worth $5,187,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. 1248 Management LLC purchased a new position in Adobe in the 1st quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new position in Adobe in the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe in the 1st quarter valued at approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe during the 1st quarter valued at $34,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 2.9%

Shares of NASDAQ:ADBE opened at $337.51 on Friday. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The firm has a fifty day moving average of $351.67 and a 200 day moving average of $370.78. The firm has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.56 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 (NASDAQ:ADBE) last announced 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm’s quarterly revenue 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. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADBE shares. Robert W. Baird boosted their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a research report on Wednesday, July 2nd. Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, Barclays boosted their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating 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, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Adobe has an average rating of “Hold” and an average target price of $433.41.

Adobe 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.