Archer Investment Corp Sells 594 Shares of Adobe Inc. $ADBE

Archer Investment Corp lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 32.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,246 shares of the software company’s stock after selling 594 shares during the quarter. Archer Investment Corp’s holdings in Adobe were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ADBE. Schmidt P J Investment Management Inc. lifted its stake in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after acquiring an additional 25 shares during the last quarter. GS Investments Inc. increased its stake in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co lifted its position in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. grew its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In related 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 value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Wells Fargo & Company lowered their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, TD Cowen dropped their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $428.96.

Adobe Stock Performance

Shares of Adobe stock opened at $312.40 on Friday. Adobe Inc. has a 12 month low of $312.09 and a 12 month high of $557.90. The firm has a market capitalization of $130.77 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.51 and a beta of 1.48. 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 business has a fifty day simple moving average of $343.95 and a two-hundred day simple moving average of $365.61.

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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the business earned $4.65 EPS. Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

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.