Jag Capital Management LLC Lowers Holdings in Adobe Inc. $ADBE

Jag Capital Management LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,953 shares of the software company’s stock after selling 149 shares during the quarter. Jag Capital Management LLC’s holdings in Adobe were worth $3,464,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe during the 1st quarter valued at approximately $30,000. Finally, Garde Capital Inc. bought a new stake in Adobe in the 1st quarter worth approximately $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Adobe stock opened at $339.32 on Tuesday. The firm has a 50-day moving average price of $351.68 and a 200-day moving average price of $370.09. The firm has a market capitalization of $142.04 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. 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.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 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 EPS. The firm’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 research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Barclays boosted their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Finally, Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.