Adobe Inc. $ADBE Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 32.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 979 shares of the software company’s stock after selling 472 shares during the quarter. Mitchell Capital Management Co.’s holdings in Adobe were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Mitchell Sinkler & Starr PA increased its stake in Adobe by 6.2% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 1,021 shares of the software company’s stock valued at $395,000 after purchasing an additional 60 shares in the last quarter. CWM LLC increased its stake in Adobe by 1.6% during the 2nd quarter. CWM LLC now owns 66,063 shares of the software company’s stock valued at $25,558,000 after purchasing an additional 1,051 shares in the last quarter. Advocate Group LLC increased its stake in Adobe by 6.1% during the 2nd quarter. Advocate Group LLC now owns 14,551 shares of the software company’s stock valued at $5,629,000 after purchasing an additional 837 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Adobe by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,573 shares of the software company’s stock valued at $23,056,000 after purchasing an additional 4,732 shares in the last quarter. Finally, Summa Corp. increased its stake in Adobe by 10.1% during the 2nd quarter. Summa Corp. now owns 1,901 shares of the software company’s stock valued at $735,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Piper Sandler cut their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $337.51 on Monday. The company’s fifty day moving average price is $351.67 and its 200 day moving average price is $370.41. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $4.65 earnings per share. The firm’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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.