Schmidt P J Investment Management Inc. Sells 67 Shares of Adobe Inc. $ADBE

by · The Cerbat Gem

Schmidt P J Investment Management Inc. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 829 shares of the software company’s stock after selling 67 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Adobe were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. GS Investments Inc. raised its stake in shares of Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co lifted its position in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its position in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the last quarter. VanderPol Investments L.L.C. lifted its position in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after buying an additional 27 shares during the last quarter. Finally, Rise Advisors LLC lifted its position in shares of Adobe by 7.0% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after buying an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, 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 report on Monday, September 8th. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Read Our Latest Stock Report on Adobe

Adobe Stock Performance

Shares of ADBE opened at $357.80 on Tuesday. The stock’s 50-day simple moving average is $351.72 and its 200 day simple moving average is $368.91. The stock has a market capitalization of $149.78 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business 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%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior 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. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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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