Adobe Inc. $ADBE Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 62.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,758 shares of the software company’s stock after selling 6,135 shares during the quarter. Mirabella Financial Services LLP’s holdings in Adobe were worth $1,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Epoch Investment Partners Inc. raised its position in Adobe by 12.6% during the second quarter. Epoch Investment Partners Inc. now owns 263,912 shares of the software company’s stock worth $102,102,000 after acquiring an additional 29,490 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Adobe by 1.4% in the second quarter. Baird Financial Group Inc. now owns 73,281 shares of the software company’s stock valued at $28,351,000 after purchasing an additional 985 shares during the last quarter. First Trust Advisors LP raised its position in shares of Adobe by 32.7% during the 2nd quarter. First Trust Advisors LP now owns 620,376 shares of the software company’s stock worth $240,011,000 after purchasing an additional 152,776 shares during the last quarter. Guggenheim Capital LLC lifted its stake in Adobe by 20.1% in the 2nd quarter. Guggenheim Capital LLC now owns 191,269 shares of the software company’s stock valued at $73,998,000 after buying an additional 32,060 shares in the last quarter. Finally, Kilter Group LLC purchased a new stake in Adobe in the 2nd quarter valued at approximately $130,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.6%

Adobe stock opened at $328.73 on Friday. The company’s 50-day moving average price is $336.77 and its two-hundred day moving average price is $360.66. The stock has a market cap of $137.61 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.20 and a beta of 1.54. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $557.90. 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 quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research 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 Thursday, November 20th. TD Cowen lowered their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Barclays restated an “overweight” rating and set a $415.00 target price on shares of Adobe in a research report on Friday. Finally, Citigroup decreased their price objective on Adobe from $400.00 to $366.00 and set a “neutral” rating on the stock in a report on Thursday. 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 assigned a Sell rating to the company. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target of $425.85.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s 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 of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Adobe 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.