Adobe Inc. $ADBE Position Trimmed by Denali Advisors LLC

Denali Advisors LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,391 shares of the software company’s stock after selling 33 shares during the period. Denali Advisors LLC’s holdings in Adobe were worth $538,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Adobe by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after buying an additional 1,422 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Adobe by 8.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 15,332 shares of the software company’s stock valued at $5,880,000 after buying an additional 1,186 shares in the last quarter. Legacy Advisors LLC grew its stake in shares of Adobe by 2.5% in the 1st quarter. Legacy Advisors LLC now owns 2,004 shares of the software company’s stock valued at $769,000 after buying an additional 49 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in shares of Adobe by 6.5% in the 1st quarter. Moran Wealth Management LLC now owns 1,402 shares of the software company’s stock valued at $538,000 after buying an additional 86 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADBE. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. TD Cowen reduced their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. DA Davidson restated a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Piper Sandler reduced their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 1.0%

Shares of ADBE stock opened at $354.09 on Thursday. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90. The firm has a market cap of $148.22 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The stock has a 50 day moving average of $351.63 and a 200-day moving average of $368.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.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 company earned $4.65 earnings per share. The company’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. On average, equities analysts predict 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.