Cobblestone Capital Advisors LLC NY Trims Stock Holdings in Adobe Inc. $ADBE

Cobblestone Capital Advisors LLC NY reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 20.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,436 shares of the software company’s stock after selling 635 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Adobe were worth $942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Schmidt P J Investment Management Inc. lifted its position in shares of Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares in the last quarter. GS Investments Inc. lifted its position in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares in the last quarter. Ted Buchan & Co lifted its position in shares of Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after purchasing an additional 26 shares in the last quarter. Lifeworks Advisors LLC lifted its position in shares of Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. lifted its position in shares of Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of ADBE opened at $353.52 on Monday. The stock has a 50 day moving average price of $351.71 and a 200 day moving average price of $368.95. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90.

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, beating 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $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. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen reduced their price target 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. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Royal Bank Of Canada cut their target price on shares of 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 issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus target price of $433.41.

About Adobe

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.