Adobe Inc. $ADBE Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 897 shares of the software company’s stock after selling 75 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Adobe were worth $347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp increased its position in Adobe by 14.4% during 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 purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Adobe by 2.4% in the 1st 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 holdings in Adobe by 24.7% in the 1st 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. grew its holdings in shares of 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 buying an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.6%

ADBE opened at $361.78 on Wednesday. The firm’s 50 day moving average is $355.77 and its 200-day moving average is $375.30. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $153.47 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.63 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the business earned $4.65 EPS. The business’s revenue 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. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ADBE. 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 research note on Friday, September 12th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Redburn Atlantic lowered 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. Finally, Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $435.63.

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.