Citizens Financial Group Inc. RI Decreases Stock Position in Adobe Inc. $ADBE

Citizens Financial Group Inc. RI trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 52.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,750 shares of the software company’s stock after selling 14,247 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Adobe were worth $4,933,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. 1248 Management LLC purchased a new stake in shares of Adobe during the first quarter valued at $25,000. Flaharty Asset Management LLC bought a new position in Adobe during the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the 1st quarter valued at about $30,000. Nexus Investment Management ULC purchased a new stake in shares of Adobe during the 2nd quarter valued at about $31,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of Adobe by 44.9% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $331.11 on Monday. The stock has a market cap of $138.60 billion, a P/E ratio of 20.63, 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 quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $346.61 and its 200 day moving average is $367.07. Adobe Inc. has a one year low of $323.03 and a one year high of $557.90.

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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. 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. Sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. UBS Group reduced their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Finally, Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Adobe Company 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.