Logan Capital Management Inc. Has $3.78 Million Stake in Adobe Inc. $ADBE

Logan Capital Management Inc. trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,757 shares of the software company’s stock after selling 690 shares during the period. Logan Capital Management Inc.’s holdings in Adobe were worth $3,775,000 at the end of the most recent quarter.

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

Adobe Trading Up 0.6%

Shares of ADBE opened at $359.91 on Wednesday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The business’s fifty day moving average is $351.70 and its 200-day moving average is $368.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $150.66 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.60 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company posted $4.65 EPS. 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 fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer lowered their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Piper Sandler lowered their target price on 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 Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. UBS Group lowered their price objective 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 Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and lowered their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and an average target price of $433.41.

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.