Adobe Inc. $ADBE Shares Sold by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 10.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,639 shares of the software company’s stock after selling 186 shares during the quarter. Riverbend Wealth Management LLC’s holdings in Adobe were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADBE. Garde Capital Inc. acquired a new position in Adobe in the first quarter worth $34,000. PFG Advisors boosted its holdings in shares of Adobe by 20.8% in the 1st 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 period. Krane Funds Advisors LLC boosted its holdings in shares of Adobe by 110.4% in the 1st 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 period. Financial Counselors Inc. grew its position in shares of Adobe by 9.2% during the 1st 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 acquired a new stake in Adobe during the first quarter worth about $305,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ADBE. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and cut their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Friday, September 12th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a report on Monday, September 1st. 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 0.4%

NASDAQ:ADBE opened at $329.23 on Friday. The stock has a market cap of $137.82 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.48 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 1 year low of $327.50 and a 1 year high of $557.90. The business has a fifty day moving average of $351.14 and a 200-day moving average of $369.21.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during 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 company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities 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.