Sentry Investment Management LLC Sells 836 Shares of Adobe Inc. $ADBE

Key Points

• Sentry Investment Management LLC reduced its stake in Adobe Inc. by 40.4%, selling 836 shares, which left them with 1,233 shares worth approximately $471,000.
• Adobe recently reported earnings of $5.31 per share, surpassing analyst expectations, with quarterly revenue reaching $5.99 billion, a 10.7% year-over-year increase.
• Wall Street analysts have mixed views on Adobe's stock with a consensus rating of "Hold" and various price targets, the highest being $500.00 as rated by DA Davidson.

Sentry Investment Management LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,233 shares of the software company's stock after selling 836 shares during the period. Sentry Investment Management LLC's holdings in Adobe were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Madison Wealth Partners Inc bought a new stake in shares of Adobe in the 2nd quarter valued at about $218,000. Calamos Wealth Management LLC bought a new stake in shares of Adobe in the 2nd quarter valued at about $9,186,000. Salomon & Ludwin LLC grew its position in shares of Adobe by 45.6% in the 2nd quarter. Salomon & Ludwin LLC now owns 198 shares of the software company's stock valued at $75,000 after buying an additional 62 shares during the last quarter. Crux Wealth Advisors grew its position in shares of Adobe by 53.2% in the 2nd quarter. Crux Wealth Advisors now owns 1,808 shares of the software company's stock valued at $699,000 after buying an additional 628 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Adobe by 48.6% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,193 shares of the software company's stock valued at $1,934,000 after buying an additional 1,699 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 1.2%

Shares of NASDAQ:ADBE opened at $333.26 on Monday. The business's 50-day moving average is $350.99 and its 200-day moving average is $368.76. Adobe Inc. has a 1 year low of $327.50 and a 1 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 has a market capitalization of $139.50 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly 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 return on equity of 57.54% and a net margin of 30.01%.The business 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 business earned $4.65 EPS. The firm'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. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of analyst reports. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. DA Davidson reiterated a "buy" rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. TD Cowen reduced their price target on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research report on Friday, September 12th. UBS Group reduced their price target on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen downgraded Adobe from a "buy" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of "Hold" and a consensus price target of $433.41.

About Adobe

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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