Commonwealth Financial Services LLC Has $251,000 Holdings in Adobe Inc. $ADBE

Commonwealth Financial Services LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.4% during the second quarter, Holdings Channel.com reports. The firm owned 650 shares of the software company’s stock after selling 37 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Adobe were worth $251,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ADBE. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC acquired a new position in shares of Adobe during the first quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi raised its stake in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Citigroup dropped their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada dropped their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Down 2.9%

ADBE opened at $337.51 on Friday. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. 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 market cap of $141.28 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company has a fifty day moving average price of $351.67 and a two-hundred day moving average price of $370.59.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last 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. Analysts predict 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.