Cullen Frost Bankers Inc. Sells 907 Shares of Adobe Inc. $ADBE

Key Points

• Cullen Frost Bankers Inc. reduced its stake in Adobe Inc. by 1.6%, selling 907 shares during the second quarter, and held 56,324 shares valued at approximately $21.79 million.
• Adobe recently reported earnings of $5.31 per share for the quarter, exceeding expectations, with revenue increasing by 10.7% year-over-year to $5.99 billion.
• Wall Street analysts have mixed ratings for Adobe, with one Strong Buy, thirteen Buy, eleven Hold, and three Sell ratings, while the average price target is $433.41.

Cullen Frost Bankers Inc. decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also recently modified their holdings of ADBE. Brighton Jones LLC boosted its stake in shares of Adobe by 2.1% during 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. GAMMA Investing LLC boosted its stake in shares of Adobe by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock valued at $2,991,000 after purchasing an additional 1,422 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Adobe by 3.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 219,510 shares of the software company's stock valued at $84,189,000 after purchasing an additional 7,016 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Adobe by 8.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 15,332 shares of the software company's stock valued at $5,880,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Legacy Advisors LLC boosted its stake in Adobe by 2.5% during the first quarter. Legacy Advisors LLC now owns 2,004 shares of the software company's stock worth $769,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 4.1%

Shares of NASDAQ ADBE opened at $357.55 on Wednesday. The firm's 50 day moving average price is $351.57 and its 200-day moving average price is $368.64. The company has a market cap of $149.67 billion, a PE ratio of 22.28, a P/E/G ratio of 1.54 and a beta of 1.49. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (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 revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ADBE shares. Evercore ISI dropped their price objective on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price objective 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 dropped their price objective 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 reissued a "buy" rating and set a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. Finally, Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe 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.

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