Crestwood Advisors Group LLC Sells 15,758 Shares of Adobe Inc. $ADBE

Crestwood Advisors Group LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,998 shares of the software company’s stock after selling 15,758 shares during the period. Crestwood Advisors Group LLC’s holdings in Adobe were worth $50,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Adobe by 9.7% in the first quarter. Concurrent Investment Advisors LLC now owns 4,656 shares of the software company’s stock valued at $1,786,000 after buying an additional 413 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Adobe by 26.1% in the first quarter. Crossmark Global Holdings Inc. now owns 31,825 shares of the software company’s stock valued at $12,206,000 after buying an additional 6,581 shares in the last quarter. Investment Partners LTD. boosted its position in Adobe by 13.5% in the first quarter. Investment Partners LTD. now owns 1,358 shares of the software company’s stock valued at $521,000 after buying an additional 161 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC boosted its holdings in shares of Adobe by 163.2% in the 1st quarter. Garrett Wealth Advisory Group LLC now owns 1,453 shares of the software company’s stock worth $557,000 after acquiring an additional 901 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.6%

Shares of ADBE opened at $335.35 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The firm has a market capitalization of $140.38 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The stock’s fifty day simple moving average is $349.76 and its 200-day simple moving average is $368.72.

Adobe (NASDAQ:ADBE) last released its earnings results 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $4.65 EPS. The company’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. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen reduced their target price on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

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.