Bellevue Asset Management LLC Reduces Position in Adobe Inc. $ADBE

Bellevue Asset Management LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.9% in the 2nd quarter, Holdings Channel reports. The fund owned 1,539 shares of the software company’s stock after selling 150 shares during the quarter. Bellevue Asset Management LLC’s holdings in Adobe were worth $595,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Schmidt P J Investment Management Inc. grew its stake 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 acquiring an additional 25 shares in the last quarter. GS Investments Inc. grew its stake in Adobe by 0.3% during the 1st 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 in the last quarter. Ted Buchan & Co grew its stake in shares of Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the period. Lifeworks Advisors LLC grew its stake in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. grew its stake 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 valued at $209,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Redburn Atlantic cut Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Citigroup reduced their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. Finally, TD Cowen reduced their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.5%

Shares of NASDAQ:ADBE opened at $348.31 on Wednesday. The company has a market cap of $145.80 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.57 and a beta of 1.49. The firm’s 50-day simple moving average is $352.39 and its 200-day simple moving average is $371.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last issued 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. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate 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 previous year, the firm 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. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.