Onyx Bridge Wealth Group LLC Decreases Stock Holdings in Adobe Inc. $ADBE

Onyx Bridge Wealth Group LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,112 shares of the software company’s stock after selling 41 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Adobe were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Schmidt P J Investment Management Inc. increased its position in shares of Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. increased its position in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co boosted its stake in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after purchasing an additional 26 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. boosted its stake in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 1.0%

NASDAQ:ADBE opened at $354.09 on Thursday. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. 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 company’s 50-day simple moving average is $351.63 and its 200 day simple moving average is $368.54. The firm has a market capitalization of $148.22 billion, a P/E ratio of 22.06, a PEG ratio of 1.60 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Adobe’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. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada cut their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. BMO Capital Markets cut their target price on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $433.41.

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.