Adobe Inc. $ADBE Position Reduced by US Bancorp DE

US Bancorp DE cut its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 340,450 shares of the software company's stock after selling 12,483 shares during the quarter. US Bancorp DE owned 0.08% of Adobe worth $131,713,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock valued at $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock valued at $2,097,289,000 after buying an additional 126,688 shares in the last quarter. Amundi lifted its stake in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research report on Friday, September 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Adobe in a research report on Wednesday. Barclays increased their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a research report on Wednesday, July 2nd. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Adobe presently has a consensus rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Up 0.1%

Adobe stock opened at $348.77 on Thursday. 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 $146.00 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.56 and a beta of 1.49. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company's fifty day moving average price is $352.08 and its two-hundred day moving average price is $371.56.

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. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

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