Adobe (NASDAQ:ADBE) Shares Down 1.3% – Time to Sell?

Adobe Inc. (NASDAQ:ADBE) fell 1.3% during mid-day trading on Friday . The company traded as low as $346.31 and last traded at $346.74. 3,116,740 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 3,980,255 shares. The stock had previously closed at $351.48.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 1.3%

The stock’s fifty day moving average is $353.22 and its two-hundred day moving average is $372.26. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly 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 company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm 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. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Hedge Funds Weigh In On Adobe

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. KFA Private Wealth Group LLC boosted its holdings in shares of Adobe by 9.2% in the 3rd quarter. KFA Private Wealth Group LLC now owns 592 shares of the software company’s stock worth $209,000 after buying an additional 50 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Adobe by 125.5% during the third quarter. Aaron Wealth Advisors LLC now owns 6,663 shares of the software company’s stock valued at $2,350,000 after purchasing an additional 3,708 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Adobe during the third quarter valued at about $185,000. Investors Research Corp increased its position in shares of Adobe by 36.6% during the third quarter. Investors Research Corp now owns 2,054 shares of the software company’s stock valued at $725,000 after buying an additional 550 shares during the period. Finally, Farmers Trust Co. increased its position in shares of Adobe by 3.3% in the third quarter. Farmers Trust Co. now owns 12,241 shares of the software company’s stock worth $4,318,000 after purchasing an additional 396 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

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.