New World Advisors LLC Sells 716 Shares of Adobe Inc. $ADBE

New World Advisors LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 49.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 725 shares of the software company’s stock after selling 716 shares during the period. New World Advisors LLC’s holdings in Adobe were worth $280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. grew its position in shares of Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. lifted its position in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after purchasing an additional 26 shares in the last quarter. Ted Buchan & Co grew its holdings in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares during the period. Lifeworks Advisors LLC grew its holdings in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its position in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADBE shares. Mizuho lowered their price objective on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group reduced their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Thursday. Melius downgraded shares of 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. Finally, Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $428.96.

Adobe Price Performance

NASDAQ:ADBE opened at $324.19 on Friday. The business’s 50-day moving average is $343.44 and its 200 day moving average is $365.22. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The company has a market capitalization of $135.71 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.51 and a beta of 1.47. 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 (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $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. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.