Adobe Inc. $ADBE Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,958 shares of the software company’s stock after selling 252 shares during the period. Sonora Investment Management Group LLC’s holdings in Adobe were worth $8,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Adobe by 14.4% during 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 acquiring an additional 821,293 shares in 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% during 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 acquiring an additional 126,688 shares in the last quarter. Amundi boosted its stake in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Adobe by 68.3% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of several research analyst reports. Barclays boosted their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Redburn Partners set a $280.00 price target on Adobe in a research note on Monday, September 1st. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Robert W. Baird boosted their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Monday, June 16th. Finally, Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Up 1.8%

Shares of NASDAQ:ADBE opened at $360.37 on Friday. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market capitalization of $150.85 billion, a PE ratio of 22.45, a PEG ratio of 1.62 and a beta of 1.48. The company has a 50 day moving average price of $355.25 and a two-hundred day moving average price of $373.63.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $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. Analysts forecast 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.