Adobe Inc. $ADBE Stock Position Lowered by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lessened its position in Adobe Inc. (NASDAQ:ADBE) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,791 shares of the software company’s stock after selling 705 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Adobe were worth $1,467,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Slow Capital Inc. increased its stake in shares of Adobe by 3.0% during the 2nd quarter. Slow Capital Inc. now owns 7,584 shares of the software company’s stock worth $2,934,000 after purchasing an additional 223 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in Adobe by 8.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 201,763 shares of the software company’s stock worth $78,058,000 after purchasing an additional 15,800 shares during the last quarter. Roberts Wealth Advisors LLC grew its position in Adobe by 9.3% in the 2nd quarter. Roberts Wealth Advisors LLC now owns 8,521 shares of the software company’s stock worth $3,297,000 after purchasing an additional 722 shares during the last quarter. Country Club Bank grew its position in Adobe by 11.1% in the 2nd quarter. Country Club Bank now owns 3,707 shares of the software company’s stock worth $1,430,000 after purchasing an additional 369 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in shares of Adobe by 14.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 25,034 shares of the software company’s stock worth $9,685,000 after acquiring an additional 3,232 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.5%

Adobe stock opened at $348.31 on Wednesday. The stock has a market capitalization of $145.80 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $352.39 and a 200-day moving average of $371.72.

Adobe (NASDAQ:ADBE) last released its quarterly 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. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.65 earnings per share. 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 anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Royal Bank Of Canada lowered their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research report on Monday, August 11th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $433.41.

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.