Everett Harris & Co. CA Sells 151 Shares of Adobe Inc. $ADBE

Everett Harris & Co. CA reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 727 shares of the software company’s stock after selling 151 shares during the period. Everett Harris & Co. CA’s holdings in Adobe were worth $281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ADBE. United Asset Strategies Inc. increased its holdings in Adobe by 3.5% in the 2nd quarter. United Asset Strategies Inc. now owns 33,149 shares of the software company’s stock worth $12,825,000 after acquiring an additional 1,122 shares in the last quarter. KBC Group NV boosted its position in shares of Adobe by 71.1% in the second quarter. KBC Group NV now owns 421,040 shares of the software company’s stock worth $162,893,000 after purchasing an additional 174,925 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Adobe by 2.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 304,923 shares of the software company’s stock worth $117,969,000 after purchasing an additional 6,533 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Adobe by 2.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 7,905 shares of the software company’s stock valued at $3,058,000 after purchasing an additional 160 shares during the period. Finally, IMA Advisory Services Inc. lifted its stake in shares of Adobe by 19.7% during the 2nd quarter. IMA Advisory Services Inc. now owns 5,474 shares of the software company’s stock valued at $2,118,000 after buying an additional 901 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADBE shares. DA Davidson reiterated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a research note on Wednesday, October 29th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Finally, Citigroup dropped their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given 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 company has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Up 1.1%

Shares of ADBE opened at $337.05 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $347.18 and a 200 day moving average of $367.65. The company has a market cap of $141.09 billion, a PE ratio of 21.00, 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.

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