Avantax Advisory Services Inc. Lowers Stock Holdings in Adobe Inc. $ADBE

Avantax Advisory Services Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,093 shares of the software company’s stock after selling 2,855 shares during the period. Avantax Advisory Services Inc.’s holdings in Adobe were worth $8,547,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC boosted its position in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the period. AMG National Trust Bank raised its stake in shares of Adobe by 25.0% in the first quarter. AMG National Trust Bank now owns 2,236 shares of the software company’s stock valued at $858,000 after acquiring an additional 447 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Adobe by 0.5% in the first quarter. Kestra Private Wealth Services LLC now owns 13,340 shares of the software company’s stock valued at $5,116,000 after purchasing an additional 69 shares during the period. IFP Advisors Inc grew its stake in Adobe by 2.0% during the 1st quarter. IFP Advisors Inc now owns 5,848 shares of the software company’s stock worth $2,243,000 after purchasing an additional 112 shares in the last quarter. Finally, Wealth Alliance LLC increased its holdings in Adobe by 5.7% during the 1st quarter. Wealth Alliance LLC now owns 2,084 shares of the software company’s stock worth $799,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ADBE shares. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Royal Bank Of Canada decreased their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. BMO Capital Markets restated an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. Finally, UBS Group decreased their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the firm’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 transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Adobe Trading Down 1.8%

Shares of Adobe stock opened at $325.07 on Tuesday. 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 fifty day simple moving average of $345.94 and a 200-day simple moving average of $366.72. The stock has a market cap of $136.07 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 12-month low of $323.03 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous 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. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.