Woodstock Corp Cuts Holdings in Adobe Inc. $ADBE

Woodstock Corp trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 954 shares of the software company’s stock after selling 55 shares during the period. Woodstock Corp’s holdings in Adobe were worth $369,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADBE. Vanguard Group Inc. boosted its stake in shares of Adobe by 0.4% in 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. Bank of New York Mellon Corp boosted its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Adobe by 2.4% in the 1st 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 worth $2,097,289,000 after buying an additional 126,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock worth $2,375,345,000 after buying an additional 600,146 shares during the last quarter. Finally, Amundi boosted its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Oppenheimer lowered their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Robert W. Baird lifted their target price on Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. DA Davidson reiterated a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $435.63.

Adobe Trading Down 0.6%

Shares of ADBE stock opened at $347.10 on Tuesday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $356.72 and its 200-day moving average price is $378.33. The stock has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last issued 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 analysts’ expectations of $5.91 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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.