Level Four Advisory Services LLC Lowers Stake in Adobe Inc. $ADBE

Level Four Advisory Services LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 32.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,089 shares of the software company’s stock after selling 1,013 shares during the period. Level Four Advisory Services LLC’s holdings in Adobe were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Adobe by 23.2% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,337 shares of the software company’s stock valued at $1,678,000 after buying an additional 818 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Adobe by 8.6% during the second quarter. Johnson Financial Group Inc. now owns 10,438 shares of the software company’s stock valued at $4,038,000 after acquiring an additional 823 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe in the second quarter valued at approximately $174,000. Atika Capital Management LLC grew its stake in Adobe by 4.2% in the second quarter. Atika Capital Management LLC now owns 22,298 shares of the software company’s stock worth $8,627,000 after purchasing an additional 898 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in Adobe by 10.0% during the 2nd quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 3,300 shares of the software company’s stock worth $1,277,000 after purchasing an additional 300 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.9%

Adobe stock opened at $320.25 on Monday. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The business has a fifty day moving average price of $339.41 and a 200-day moving average price of $362.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $134.05 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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%. Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ADBE shares. UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Oppenheimer dropped their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Piper Sandler reduced their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $428.96.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

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.