Adobe Inc. $ADBE Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 54.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 724 shares of the software company’s stock after selling 851 shares during the quarter. Cedar Wealth Management LLC’s holdings in Adobe were worth $280,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after acquiring an additional 126,688 shares during the period. Amundi boosted its holdings in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Adobe by 6.8% in the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock worth $1,432,680,000 after acquiring an additional 238,542 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADBE. Oppenheimer reduced their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Piper Sandler lowered their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Finally, Evercore ISI decreased their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $331.11 on Friday. Adobe Inc. has a 1 year low of $323.03 and a 1 year high of $557.90. The firm has a market cap of $138.60 billion, a P/E ratio of 20.63, a PEG ratio of 1.51 and a beta of 1.47. The stock has a fifty day moving average price of $346.61 and a two-hundred day moving average price of $367.15. 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 data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The company’s 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. Research analysts forecast that Adobe Inc. will post 16.65 EPS 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.