Adobe Inc. $ADBE Position Trimmed by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 7.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,232 shares of the software company’s stock after selling 105 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Adobe were worth $477,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Schmidt P J Investment Management Inc. boosted its position 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 valued at $344,000 after purchasing an additional 25 shares during the period. GS Investments Inc. boosted its holdings in shares of 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 acquiring an additional 26 shares during the period. Ted Buchan & Co boosted its holdings in shares of 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 acquiring an additional 26 shares during the period. Lifeworks Advisors LLC grew its position in shares of Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. increased its holdings in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 1.0%

ADBE opened at $350.14 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company 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 stock’s fifty day moving average is $352.83 and its 200-day moving average is $371.88. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the business posted $4.65 earnings per share. The company’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. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Stifel Nicolaus reduced their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a research report on Friday, June 13th. Finally, Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.