Adobe Inc. $ADBE Shares Sold by Naviter Wealth LLC

by · The Cerbat Gem

Naviter Wealth LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 5,827 shares of the software company’s stock after selling 35 shares during the quarter. Naviter Wealth LLC’s holdings in Adobe were worth $2,254,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of ADBE. Axxcess Wealth Management LLC lifted its holdings in shares of Adobe by 17.0% during the second quarter. Axxcess Wealth Management LLC now owns 4,398 shares of the software company’s stock worth $1,701,000 after purchasing an additional 639 shares during the period. Moran Wealth Management LLC raised its position in Adobe by 8.7% during the 2nd quarter. Moran Wealth Management LLC now owns 1,524 shares of the software company’s stock worth $590,000 after buying an additional 122 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Adobe by 20.7% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,862 shares of the software company’s stock valued at $1,881,000 after acquiring an additional 833 shares during the period. Wealth Architects LLC boosted its holdings in shares of Adobe by 9.8% in the 2nd quarter. Wealth Architects LLC now owns 1,096 shares of the software company’s stock valued at $424,000 after acquiring an additional 98 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Adobe by 17.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,063 shares of the software company’s stock valued at $3,893,000 after acquiring an additional 1,473 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a research report on Wednesday, July 2nd. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Oppenheimer decreased their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Finally, BMO Capital Markets decreased their price target on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Check Out Our Latest Analysis on Adobe

Adobe Stock Performance

NASDAQ ADBE opened at $339.32 on Tuesday. The stock has a market capitalization of $142.04 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49. The stock has a 50-day moving average of $351.68 and a 200 day moving average of $370.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90.

Adobe (NASDAQ:ADBE – Get Free Report) last issued 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 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $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. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

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