Adobe Inc. $ADBE Shares Sold by Purus Wealth Management LLC

Purus Wealth Management LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 28.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,325 shares of the software company’s stock after selling 2,484 shares during the quarter. Adobe comprises about 0.8% of Purus Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Purus Wealth Management LLC’s holdings in Adobe were worth $2,447,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ADBE. 1248 Management LLC acquired a new position in shares of Adobe during the first quarter worth about $25,000. LSV Asset Management grew its holdings in Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after acquiring an additional 56 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the 1st quarter valued at $30,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Adobe during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $325.07 on Tuesday. The firm has a market cap of $136.07 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 52-week low of $323.03 and a 52-week high of $557.90. The business’s 50-day moving average price is $345.94 and its 200 day moving average price is $366.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business 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. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Barclays set a $465.00 price target on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup reduced their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada reduced their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $433.41.

Insider Buying and Selling at Adobe

In related 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 value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.