17 Capital Partners LLC Sells 340 Shares of Adobe Inc. $ADBE

17 Capital Partners LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,822 shares of the software company’s stock after selling 340 shares during the quarter. Adobe makes up about 0.9% of 17 Capital Partners LLC’s holdings, making the stock its 27th biggest position. 17 Capital Partners LLC’s holdings in Adobe were worth $1,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Main Management ETF Advisors LLC grew its position in shares of Adobe by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 2,199 shares of the software company’s stock valued at $851,000 after purchasing an additional 36 shares during the last quarter. Empirical Finance LLC lifted its stake in shares of Adobe by 0.6% in the second quarter. Empirical Finance LLC now owns 15,883 shares of the software company’s stock valued at $6,145,000 after buying an additional 96 shares during the period. Seizert Capital Partners LLC acquired a new stake in Adobe during the second quarter worth about $5,799,000. Sierra Legacy Group increased its stake in Adobe by 85.8% during the second quarter. Sierra Legacy Group now owns 3,400 shares of the software company’s stock valued at $1,315,000 after acquiring an additional 1,570 shares during the period. Finally, Renaissance Group LLC raised its holdings in Adobe by 9.1% in the 2nd quarter. Renaissance Group LLC now owns 77,764 shares of the software company’s stock valued at $30,085,000 after acquiring an additional 6,488 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $318.11 on Thursday. Adobe Inc. has a 52 week low of $315.17 and a 52 week high of $557.90. The stock has a market capitalization of $133.16 billion, a PE ratio of 19.82, a PEG ratio of 1.51 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $344.71 and its 200-day moving average is $365.98.

Adobe (NASDAQ:ADBE) last issued 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADBE. Cowen restated a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Citigroup cut their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. Finally, UBS Group dropped their target price 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 research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $433.41.

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.