617 Shares in Adobe Inc. $ADBE Bought by Cornerstone Advisory LLC

Cornerstone Advisory LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel reports. The firm purchased 617 shares of the software company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. 1248 Management LLC purchased a new stake in Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the first quarter valued at approximately $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe during the first quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe in the second quarter worth approximately $31,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several analyst reports. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Oppenheimer dropped their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. Finally, Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Trading Up 0.0%

NASDAQ:ADBE opened at $354.12 on Friday. The firm has a market capitalization of $148.23 billion, a P/E ratio of 22.06, a PEG ratio of 1.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. The company’s 50-day simple moving average is $351.74 and its 200 day simple moving average is $368.63.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm 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 business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business 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. As a group, 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.