Strait & Sound Wealth Management LLC Sells 30 Shares of Adobe Inc. $ADBE

Strait & Sound Wealth Management LLC reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 528 shares of the software company’s stock after selling 30 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Adobe were worth $204,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter valued at $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter valued at $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe in the second quarter valued at $31,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ADBE shares. BMO Capital Markets decreased their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group decreased their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Friday. Finally, Citigroup decreased their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 0.2%

ADBE stock opened at $353.52 on Friday. 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 company has a fifty day moving average price of $351.71 and a two-hundred day moving average price of $368.92. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. The stock has a market cap of $147.98 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The company’s revenue for the quarter 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. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current 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.