Prairie Wealth Advisors Inc. Sells 185 Shares of Adobe Inc. $ADBE

Prairie Wealth Advisors Inc. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 23.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 604 shares of the software company’s stock after selling 185 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Adobe were worth $234,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Adobe by 68.3% in the 1st 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 in the last quarter. Nuveen LLC bought a new position in shares of Adobe in the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 6.1%

Shares of ADBE opened at $337.86 on Thursday. The business has a 50-day moving average of $351.39 and a 200 day moving average of $368.87. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The firm has a market cap of $141.43 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 1.61 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 announced its quarterly earnings data 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm posted $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, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADBE shares. Piper Sandler cut their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Cowen reissued a “hold” rating on shares of Adobe in a research report on Wednesday. Redburn Partners set a $280.00 price target on Adobe in a research report on Monday, September 1st. Barclays set a $465.00 target price on Adobe and gave the company an “overweight” rating in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock 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.