Canopy Partners LLC Cuts Stake in Adobe Inc. $ADBE

Canopy Partners LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 41.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 902 shares of the software company’s stock after selling 640 shares during the period. Canopy Partners LLC’s holdings in Adobe were worth $349,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Garde Capital Inc. purchased a new stake in Adobe during the 1st quarter worth $34,000. PFG Advisors increased its position in shares of Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after acquiring an additional 855 shares during the last quarter. Krane Funds Advisors LLC increased its holdings in Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares during the last quarter. Financial Counselors Inc. increased its holdings in Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in Adobe during the 1st quarter worth approximately $305,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE opened at $348.31 on Wednesday. The company has a market cap of $145.80 billion, a P/E ratio of 21.70, a PEG ratio of 1.57 and a beta of 1.49. The stock has a fifty day moving average price of $352.39 and a 200 day moving average price of $371.72. 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 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last issued 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 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 firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.65 EPS. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. Robert W. Baird boosted their price objective on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. UBS Group lowered their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $433.41.

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.