Phraction Management LLC Cuts Stock Holdings in Adobe Inc. $ADBE

Phraction Management LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 21.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,733 shares of the software company’s stock after selling 475 shares during the period. Phraction Management LLC’s holdings in Adobe were worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its position in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the period. RFG Advisory LLC lifted its stake in Adobe by 72.9% in the first quarter. RFG Advisory LLC now owns 2,702 shares of the software company’s stock worth $1,036,000 after acquiring an additional 1,139 shares during the period. Apella Capital LLC increased its holdings in Adobe by 62.5% during the first quarter. Apella Capital LLC now owns 1,139 shares of the software company’s stock valued at $415,000 after buying an additional 438 shares during the period. Financial Management Professionals Inc. raised its position in shares of Adobe by 74.3% in the 1st quarter. Financial Management Professionals Inc. now owns 190 shares of the software company’s stock worth $73,000 after acquiring an additional 81 shares in the last quarter. Finally, Lifestyle Asset Management Inc. boosted its holdings in shares of Adobe by 26.7% in the 1st quarter. Lifestyle Asset Management Inc. now owns 665 shares of the software company’s stock valued at $255,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $351.48 on Friday. The business’s fifty day moving average price is $353.70 and its 200 day moving average price is $372.68. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a market capitalization of $147.13 billion, a PE ratio of 21.90, a P/E/G ratio of 1.54 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its earnings results 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 net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm earned $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. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Oppenheimer reduced their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Finally, Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe presently 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.