Legal Advantage Investments Inc. Sells 838 Shares of Adobe Inc. $ADBE

Legal Advantage Investments Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,595 shares of the software company’s stock after selling 838 shares during the quarter. Adobe comprises approximately 1.7% of Legal Advantage Investments Inc.’s holdings, making the stock its 23rd largest holding. Legal Advantage Investments Inc.’s holdings in Adobe were worth $3,712,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter worth approximately $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADBE. BMO Capital Markets reduced their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Barclays boosted their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 2.9%

NASDAQ:ADBE opened at $337.51 on Friday. The company’s 50 day moving average is $351.67 and its two-hundred day moving average is $370.59. The company has a market cap of $141.28 billion, a PE ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The business 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 for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts anticipate that Adobe Inc. will post 16.65 EPS 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.