Adobe Inc. $ADBE Shares Sold by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208 shares of the software company’s stock after selling 43 shares during the period. Wolff Wiese Magana LLC’s holdings in Adobe were worth $80,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Moss Adams Wealth Advisors LLC grew its stake in shares of Adobe by 15.6% during the second quarter. Moss Adams Wealth Advisors LLC now owns 2,599 shares of the software company’s stock valued at $1,006,000 after acquiring an additional 350 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in shares of Adobe during the second quarter valued at about $2,030,000. Scott & Selber Inc. grew its stake in shares of Adobe by 134.4% during the second quarter. Scott & Selber Inc. now owns 8,192 shares of the software company’s stock valued at $3,169,000 after acquiring an additional 4,697 shares in the last quarter. Smith Salley Wealth Management acquired a new stake in shares of Adobe during the second quarter valued at about $245,000. Finally, Addenda Capital Inc. grew its stake in shares of Adobe by 2.0% during the second quarter. Addenda Capital Inc. now owns 33,753 shares of the software company’s stock valued at $13,058,000 after acquiring an additional 653 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE stock opened at $360.37 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $355.25 and a two-hundred day moving average of $373.60. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a market cap of $150.85 billion, a P/E ratio of 22.45, a PEG ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $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, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Barclays lifted their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. Finally, Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.