Richwood Investment Advisors LLC Sells 266 Shares of Adobe Inc. $ADBE

Richwood Investment Advisors LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 20.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,052 shares of the software company’s stock after selling 266 shares during the period. Richwood Investment Advisors LLC’s holdings in Adobe were worth $407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Brighton Jones LLC boosted its holdings in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares in the last quarter. UMB Bank n.a. boosted its holdings in Adobe by 133.6% in the first quarter. UMB Bank n.a. now owns 23,657 shares of the software company’s stock valued at $9,073,000 after acquiring an additional 13,531 shares in the last quarter. Wedmont Private Capital boosted its holdings in Adobe by 2.2% in the first quarter. Wedmont Private Capital now owns 5,439 shares of the software company’s stock valued at $1,917,000 after acquiring an additional 119 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Adobe by 9.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,924 shares of the software company’s stock valued at $1,121,000 after acquiring an additional 249 shares in the last quarter. Finally, KMG Fiduciary Partners LLC bought a new stake in Adobe in the first quarter valued at $1,949,000. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE opened at $350.14 on Tuesday. The stock has a 50-day moving average price of $352.83 and a 200-day moving average price of $371.88. 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 cap of $146.57 billion, a PE ratio of 21.82, a P/E/G ratio of 1.55 and a beta of 1.49. 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, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during 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 quarter 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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup cut their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and cut their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. One equities research 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 company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe 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.