SVB Wealth LLC Reduces Stock Holdings in Adobe Inc. $ADBE

SVB Wealth LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 31.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,278 shares of the software company’s stock after selling 3,750 shares during the quarter. SVB Wealth LLC’s holdings in Adobe were worth $3,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crestmont Private Wealth LLC grew its position in shares of Adobe by 3.9% in the second quarter. Crestmont Private Wealth LLC now owns 1,191 shares of the software company’s stock valued at $461,000 after purchasing an additional 45 shares during the last quarter. L2 Asset Management LLC grew its holdings in Adobe by 19.5% during the 2nd quarter. L2 Asset Management LLC now owns 2,355 shares of the software company’s stock valued at $911,000 after buying an additional 384 shares during the last quarter. Howard Hughes Medical Institute acquired a new stake in Adobe during the 2nd quarter valued at $36,000. Ossiam increased its position in Adobe by 44.3% during the second quarter. Ossiam now owns 325,386 shares of the software company’s stock worth $125,885,000 after buying an additional 99,851 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Adobe by 25.0% in the second quarter. Bank of Nova Scotia now owns 483,672 shares of the software company’s stock valued at $187,123,000 after acquiring an additional 96,792 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Adobe Stock Down 2.1%

Shares of NASDAQ:ADBE opened at $339.12 on Tuesday. The firm has a market cap of $141.96 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.54. The company has a fifty day simple moving average of $336.08 and a 200 day simple moving average of $358.83. 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 12-month low of $311.58 and a 12-month 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 for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADBE shares. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research note on Wednesday, October 29th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Barclays reaffirmed an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a research report on Friday. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Mizuho lowered their price objective on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $425.85.

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.