Butensky & Cohen Financial Security Inc. Sells 1,478 Shares of Adobe Inc. $ADBE

Key Points

• Butensky & Cohen Financial Security Inc. reduced its stake in Adobe Inc. by 13.9%, selling 1,478 shares and now holding 9,128 shares valued at $3.53 million.
• Adobe reported $5.31 earnings per share for its latest quarter, exceeding the expected $5.18, with revenues of $5.99 billion, a 10.7% increase year-over-year.
• Institutional investors hold 81.79% of Adobe's stock, indicating strong institutional support despite recent adjustments in their positions.

Butensky & Cohen Financial Security Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,128 shares of the software company's stock after selling 1,478 shares during the quarter. Butensky & Cohen Financial Security Inc.'s holdings in Adobe were worth $3,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copia Wealth Management acquired a new position in shares of Adobe during the fourth quarter worth approximately $28,000. SWAN Capital LLC acquired a new stake in Adobe in the fourth quarter worth approximately $28,000. 1248 Management LLC acquired a new stake in Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter valued at $26,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter valued at $29,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.3%

Adobe stock traded down $0.93 during mid-day trading on Tuesday, hitting $363.16. 1,697,335 shares of the company's stock were exchanged, compared to its average volume of 3,947,370. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a market cap of $154.05 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The stock has a 50 day moving average of $355.82 and a two-hundred day moving average of $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 earnings per share. 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 anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADBE shares. Barclays upped their price target on Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. 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. Finally, TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

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.