SVB Wealth LLC Reduces Holdings in Adobe Inc. $ADBE

SVB Wealth LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,278 shares of the software company’s stock after selling 3,750 shares during the period. SVB Wealth LLC’s holdings in Adobe were worth $3,202,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. boosted its position in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares during the period. Ted Buchan & Co lifted its stake in Adobe by 1.9% in the first 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 last quarter. VanderPol Investments L.L.C. boosted its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after acquiring an additional 27 shares during the period. Rise Advisors LLC boosted its holdings in shares of Adobe by 7.0% in the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after acquiring an additional 27 shares during the period. Finally, FSM Wealth Advisors LLC grew its position in shares of Adobe by 1.1% during the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Down 2.1%

ADBE opened at $339.12 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The stock has a market capitalization of $141.96 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.27 and a beta of 1.54. The business has a 50 day simple moving average of $336.08 and a 200-day simple moving average of $358.83.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. Adobe’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Morgan Stanley lowered 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 report on Wednesday, September 24th. Citigroup reduced their price objective on Adobe from $400.00 to $366.00 and set a “neutral” rating for the company in a research note on Thursday, December 4th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $425.85.

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.