Drucker Wealth 3.0 LLC Sells 583 Shares of Adobe Inc. $ADBE

Drucker Wealth 3.0 LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 33.8% in the 2nd quarter, Holdings Channel reports. The fund owned 1,142 shares of the software company’s stock after selling 583 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Adobe were worth $426,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the period. Nuveen LLC bought a new position in shares of Adobe during the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi boosted its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several analyst reports. Robert W. Baird raised their target price on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Phillip Securities upgraded Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Barclays raised their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Oppenheimer cut their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $337.51 on Friday. The business’s 50-day moving average price is $351.67 and its two-hundred day moving average price is $370.59. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The stock has a market cap of $141.28 billion, a P/E ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

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 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 for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm posted $4.65 EPS. The company’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. Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.