Commonwealth Equity Services LLC Lowers Position in Adobe Inc. $ADBE

Commonwealth Equity Services LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,272 shares of the software company’s stock after selling 8,939 shares during the period. Commonwealth Equity Services LLC’s holdings in Adobe were worth $61,619,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. PFG Advisors raised its stake in shares of Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares during the period. Lathrop Investment Management Co. grew its position in Adobe by 2.8% during the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares during the period. Mcdaniel Terry & Co. grew its position in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after buying an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in Adobe during the second quarter worth about $328,000. Finally, Koss Olinger Consulting LLC bought a new stake in Adobe in the first quarter worth about $305,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Piper Sandler reduced their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, Barclays set a $465.00 target price on Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.1%

Adobe stock opened at $326.95 on Friday. The firm has a 50 day simple moving average of $348.22 and a 200 day simple moving average of $368.09. 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 Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The firm has a market capitalization of $136.86 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last posted its 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current 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.