Robertson Stephens Wealth Management LLC Trims Stock Holdings in Adobe Inc. $ADBE

Robertson Stephens Wealth Management LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,914 shares of the software company’s stock after selling 489 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Adobe were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. increased its holdings in Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. increased its holdings in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co increased its holdings in Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after purchasing an additional 26 shares during the period. Lifeworks Advisors LLC increased its holdings in Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after purchasing an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its holdings in Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 2.9%

Shares of NASDAQ:ADBE opened at $337.51 on Friday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The business’s fifty day simple moving average is $351.67 and its 200-day simple moving average is $370.78. 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 company has a market capitalization of $141.28 billion, a PE ratio of 21.03, a P/E/G ratio of 1.56 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its 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 return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm’s revenue for the quarter 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, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ADBE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday. Barclays raised their price objective on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. BMO Capital Markets reduced their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a 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 issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and an average 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.