Sagespring Wealth Partners LLC Sells 995 Shares of Adobe Inc. $ADBE

Sagespring Wealth Partners LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 22.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,341 shares of the software company’s stock after selling 995 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Adobe were worth $1,293,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Vanguard Group Inc. raised its position in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after acquiring an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi lifted its position in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 1.0%

ADBE stock opened at $335.94 on Wednesday. The stock has a fifty day moving average of $351.63 and a 200-day moving average of $369.85. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a market capitalization of $140.62 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.52 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 released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS 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 company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior 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.

Analyst Ratings Changes

Several equities research analysts have commented on ADBE shares. Oppenheimer decreased their price objective 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. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Finally, UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Company 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.