Tranquility Partners LLC Sells 40 Shares of Adobe Inc. $ADBE

Tranquility Partners LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,043 shares of the software company’s stock after selling 40 shares during the period. Tranquility Partners LLC’s holdings in Adobe were worth $404,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the first quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter valued at $30,000. Finally, Garde Capital Inc. acquired a new position in shares of Adobe during the first quarter valued at $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADBE shares. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Robert W. Baird upped their price target on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. UBS Group cut their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Finally, Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 2.9%

NASDAQ ADBE opened at $337.51 on Friday. The firm 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. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $351.67 and its 200-day moving average is $370.59. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last 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. Sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.