Wedbush Securities Inc. Trims Stock Holdings in Adobe Inc. $ADBE

Wedbush Securities Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,664 shares of the software company’s stock after selling 479 shares during the period. Wedbush Securities Inc.’s holdings in Adobe were worth $5,673,000 at the end of the most recent quarter.

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

Adobe Trading Down 0.1%

Shares of ADBE opened at $326.95 on Friday. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The company has a market capitalization of $136.86 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.51 and a beta of 1.47. 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 firm’s 50 day simple moving average is $348.22 and its 200 day simple moving average is $368.09.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Royal Bank Of Canada reduced their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Cowen reaffirmed a “hold” rating on shares of Adobe in a report on Wednesday, October 29th. Oppenheimer lowered their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Finally, Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. One 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $433.41.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.