Washington Trust Advisors Inc. Sells 238 Shares of Adobe Inc. $ADBE

Washington Trust Advisors Inc. trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 76.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74 shares of the software company’s stock after selling 238 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Adobe were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. PFG Advisors grew its stake in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after acquiring an additional 855 shares during the period. Krane Funds Advisors LLC boosted its position in shares of Adobe by 110.4% during the first 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 last quarter. Financial Counselors Inc. boosted its position in shares of Adobe by 9.2% during the first 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. Jackson Thornton Wealth Management LLC purchased a new position in Adobe in the second quarter worth $328,000. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter worth $305,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.2%

Shares of ADBE stock opened at $353.52 on Friday. 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 business has a 50-day moving average of $351.71 and a 200 day moving average of $368.72. The stock has a market capitalization of $147.98 billion, a PE ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The business’s 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on ADBE shares. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. TD Cowen decreased their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.