Adobe Inc. $ADBE Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 90.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,412 shares of the software company’s stock after selling 14,167 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Adobe were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Brighton Jones LLC grew its position in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. GAMMA Investing LLC grew its position in Adobe by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock worth $2,991,000 after purchasing an additional 1,422 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Adobe by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,461 shares of the software company’s stock worth $44,283,000 after purchasing an additional 4,306 shares during the last quarter. Sound Income Strategies LLC grew its position in Adobe by 17.6% during the 1st quarter. Sound Income Strategies LLC now owns 308 shares of the software company’s stock worth $118,000 after purchasing an additional 46 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its position in Adobe by 2.9% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 7,764 shares of the software company’s stock worth $2,978,000 after purchasing an additional 216 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. TD Cowen lowered their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 1.0%

ADBE stock opened at $335.94 on Wednesday. The company has a market cap of $140.62 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.52 and a beta of 1.49. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company’s 50-day moving average price is $351.63 and its 200 day moving average price is $369.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm 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. On average, research analysts expect 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.