Transcend Capital Advisors LLC Sells 1,384 Shares of Adobe Inc. $ADBE

Transcend Capital Advisors LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 30.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,135 shares of the software company’s stock after selling 1,384 shares during the period. Transcend Capital Advisors LLC’s holdings in Adobe were worth $1,213,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 1248 Management LLC bought a new position in Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter worth about $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe in the second quarter worth about $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 1.2%

NASDAQ:ADBE opened at $357.80 on Tuesday. The company’s 50 day moving average price is $351.72 and its 200-day moving average price is $368.91. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $149.78 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. 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 research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADBE shares. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. 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 report on Friday, September 12th. Finally, Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.