Baskin Financial Services Inc. Sells 1,478 Shares of Adobe Inc. $ADBE

Baskin Financial Services Inc. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 55,999 shares of the software company’s stock after selling 1,478 shares during the quarter. Adobe comprises approximately 1.6% of Baskin Financial Services Inc.’s holdings, making the stock its 28th largest position. Baskin Financial Services Inc.’s holdings in Adobe were worth $21,664,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 valued at $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 holdings 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 valued at $2,097,289,000 after acquiring an additional 126,688 shares in the last quarter. Amundi boosted its holdings in shares of Adobe by 24.7% during the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings 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 valued at $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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets cut their price objective on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. UBS Group cut their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Royal Bank Of Canada cut their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Finally, Piper Sandler cut their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 0.4%

Shares of NASDAQ:ADBE opened at $347.47 on Friday. The company has a market capitalization of $145.45 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average is $351.88 and its 200-day moving average is $371.24. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.65 EPS. 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 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.