Adobe Inc. $ADBE Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 81.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,395 shares of the software company’s stock after selling 6,045 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Adobe were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe in the 1st quarter valued at $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the 1st quarter worth $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the 1st quarter worth $30,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of Adobe during the second quarter worth $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and dropped their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Sunday. Piper Sandler cut their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 0.2%

ADBE opened at $353.52 on Monday. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The firm has a 50 day moving average price of $351.71 and a 200 day moving average price of $368.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. Adobe’s revenue for the quarter 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. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.