Good Life Advisors LLC Lowers Stock Position in Adobe Inc. $ADBE

Good Life Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 33.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 640 shares of the software company’s stock after selling 318 shares during the period. Good Life Advisors LLC’s holdings in Adobe were worth $248,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ADBE. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at $25,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new position in shares of Adobe in the 1st quarter valued at $30,000. Nexus Investment Management ULC purchased a new position in shares of Adobe in the second quarter worth about $31,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in Adobe by 44.9% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock valued at $39,000 after acquiring an additional 31 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several analyst reports. Oppenheimer dropped their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. Piper Sandler cut their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 0.7%

Shares of ADBE stock opened at $331.11 on Friday. Adobe Inc. has a fifty-two week low of $323.03 and a fifty-two week high of $557.90. The company has a 50 day moving average price of $346.61 and a 200 day moving average price of $367.12. 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 market capitalization of $138.60 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

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

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.