JFS Wealth Advisors LLC Cuts Stock Position in Adobe Inc. $ADBE

JFS Wealth Advisors LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,012 shares of the software company’s stock after selling 41 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Adobe were worth $392,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. increased its position in shares of Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new stake in Adobe during the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi boosted its stake in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

ADBE stock opened at $337.51 on Friday. 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 has a market capitalization of $141.28 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.51 and a beta of 1.49. The business’s 50-day moving average is $351.67 and its two-hundred day moving average is $370.59. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly 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 company had revenue of $5.99 billion for 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 for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company 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. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. BMO Capital Markets dropped their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Citigroup dropped their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $433.41.

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.