Main Street Group LTD Sells 105 Shares of Adobe Inc. $ADBE

Main Street Group LTD reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 58.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 75 shares of the software company’s stock after selling 105 shares during the period. Main Street Group LTD’s holdings in Adobe were worth $29,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. increased its stake in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the period. GS Investments Inc. increased its position in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co raised its stake in shares of Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after acquiring an additional 26 shares in the last quarter. Lifeworks Advisors LLC boosted its holdings in shares of Adobe by 3.6% in 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 stake in 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 in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a research report on Wednesday, July 2nd. 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 note on Friday, September 12th. Mizuho dropped their target price on Adobe from $530.00 to $460.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Robert W. Baird upped their target price on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Finally, Piper Sandler lowered their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Performance

Shares of Adobe stock opened at $361.78 on Wednesday. The firm has a market capitalization of $153.47 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.63 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The firm’s 50 day moving average is $355.77 and its two-hundred day moving average is $375.30.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business posted $4.65 EPS. The firm’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. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.