Cullen Frost Bankers Inc. Decreases Stock Holdings in Adobe Inc. $ADBE

Cullen Frost Bankers Inc. trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,324 shares of the software company’s stock after selling 907 shares during the period. Cullen Frost Bankers Inc.’s holdings in Adobe were worth $21,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Adobe by 14.4% during the first 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 buying an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 buying an additional 126,688 shares during the last quarter. Amundi increased its holdings in 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 buying an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $357.55 on Wednesday. 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 firm has a fifty day moving average price of $351.57 and a 200 day moving average price of $368.64. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The firm has a market cap of $149.67 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.54 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.91 billion. During the same quarter in the prior year, the business 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. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ADBE shares. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Finally, Oppenheimer reduced their price objective 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. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $433.41.

Adobe 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.