Lodestar Private Asset Management LLC Has $597,000 Position in Adobe Inc. $ADBE

Lodestar Private Asset Management LLC reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.4% in the second quarter, HoldingsChannel.com reports. The fund owned 1,543 shares of the software company’s stock after selling 198 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Adobe were worth $597,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the 1st quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe during the 1st quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter worth about $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter worth about $34,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $337.51 on Friday. The company’s 50 day moving average price is $351.67 and its two-hundred day moving average price is $370.59. 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 Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The stock has a market cap of $141.28 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results 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 net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. Adobe’s quarterly 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. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Royal Bank Of Canada cut their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. DA Davidson reissued a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. BMO Capital Markets cut their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Finally, UBS Group cut their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.