Meitav Investment House Ltd. Lowers Stake in Adobe Inc. $ADBE

Meitav Investment House Ltd. lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,228 shares of the software company’s stock after selling 20,050 shares during the quarter. Meitav Investment House Ltd.’s holdings in Adobe were worth $49,234,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Roberts Wealth Advisors LLC lifted its holdings in Adobe by 9.3% during the second quarter. Roberts Wealth Advisors LLC now owns 8,521 shares of the software company’s stock valued at $3,297,000 after purchasing an additional 722 shares in the last quarter. Country Club Bank lifted its holdings in Adobe by 11.1% during the second quarter. Country Club Bank now owns 3,707 shares of the software company’s stock valued at $1,430,000 after purchasing an additional 369 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in Adobe by 14.8% during the second quarter. SteelPeak Wealth LLC now owns 25,034 shares of the software company’s stock valued at $9,685,000 after purchasing an additional 3,232 shares in the last quarter. Motiv8 Investments LLC lifted its holdings in Adobe by 10.6% during the second quarter. Motiv8 Investments LLC now owns 2,918 shares of the software company’s stock valued at $1,129,000 after purchasing an additional 280 shares in the last quarter. Finally, KPP Advisory Services LLC lifted its holdings in Adobe by 6.7% during the second quarter. KPP Advisory Services LLC now owns 1,216 shares of the software company’s stock valued at $470,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.0%

Shares of ADBE opened at $350.14 on Tuesday. The company’s fifty day moving average is $352.83 and its 200 day moving average is $371.88. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The stock has a market capitalization of $146.57 billion, a PE ratio of 21.82, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company 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 business posted $4.65 earnings per share. Adobe’s quarterly 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. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADBE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. Citigroup reduced their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Oppenheimer reduced their price objective 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. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $433.41.

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.