HBK Sorce Advisory LLC Sells 230 Shares of Adobe Inc. $ADBE

HBK Sorce Advisory LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 6.7% in the second quarter, Holdings Channel reports. The firm owned 3,210 shares of the software company’s stock after selling 230 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Adobe were worth $1,242,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. raised its position in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after buying an additional 25 shares in the last quarter. GS Investments Inc. raised its position in shares of Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after buying an additional 26 shares in the last quarter. Ted Buchan & Co raised its position in shares of Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC raised its position in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. raised its position in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after buying an additional 27 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 0.4%

Shares of ADBE opened at $339.24 on Friday. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The stock has a market capitalization of $142.01 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. 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 stock has a fifty day moving average of $351.10 and a 200-day moving average of $368.67.

Adobe (NASDAQ:ADBE) last announced 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 return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. Adobe’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, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Barclays set a $465.00 target price on shares of Adobe and gave the company an “overweight” rating in a research report on Wednesday. DA Davidson restated a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Finally, Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.