Spire Wealth Management Lowers Stock Holdings in Adobe Inc. $ADBE

Spire Wealth Management decreased its position in Adobe Inc. (NASDAQ:ADBE) by 23.0% in the second quarter, Holdings Channel reports. The firm owned 12,721 shares of the software company’s stock after selling 3,793 shares during the period. Spire Wealth Management’s holdings in Adobe were worth $4,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Assenagon Asset Management S.A. raised its position in Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC purchased a new position in shares of Adobe during the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi raised its holdings in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $337.86 on Thursday. The firm’s fifty day simple moving average is $351.39 and its two-hundred day simple moving average is $368.87. The firm has a market capitalization of $141.43 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.61 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 $327.50 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the firm earned $4.65 EPS. The business’s quarterly revenue 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. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price target on shares of Adobe in a research report on Wednesday. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Royal Bank Of Canada lowered their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.