Adobe Inc. $ADBE Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 11.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,200 shares of the software company’s stock after selling 1,500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Adobe were worth $4,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares during the last quarter. AMG National Trust Bank increased its position in Adobe by 25.0% during the first quarter. AMG National Trust Bank now owns 2,236 shares of the software company’s stock worth $858,000 after acquiring an additional 447 shares during the period. Kestra Private Wealth Services LLC raised its stake in Adobe by 0.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 13,340 shares of the software company’s stock valued at $5,116,000 after purchasing an additional 69 shares during the last quarter. OneAscent Family Office LLC bought a new stake in Adobe in the 1st quarter valued at $255,000. Finally, Elyxium Wealth LLC acquired a new stake in Adobe in the 1st quarter worth $1,060,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

ADBE opened at $331.11 on Monday. The company has a fifty day moving average price of $346.61 and a two-hundred day moving average price of $367.07. The firm has a market capitalization of $138.60 billion, a PE ratio of 20.63, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 52 week low of $323.03 and a 52 week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced 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. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior 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. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price target on shares of Adobe in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $433.41.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.