Envestnet Asset Management Inc. Has $294.10 Million Stake in Adobe Inc. $ADBE

Envestnet Asset Management Inc. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.0% in the second quarter, Holdings Channel.com reports. The firm owned 760,192 shares of the software company’s stock after selling 7,325 shares during the period. Envestnet Asset Management Inc.’s holdings in Adobe were worth $294,100,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Adobe during the 1st quarter valued at about $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, Nexus Investment Management ULC bought a new position in shares of Adobe during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.2%

NASDAQ:ADBE opened at $353.52 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. The firm’s 50 day moving average is $351.71 and its 200 day moving average is $368.95. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90.

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

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Oppenheimer dropped their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Evercore ISI dropped their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Barclays lifted their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.