Adobe Inc. $ADBE Shares Sold by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management significantly reduced its stake in Adobe Inc. by 68.1%, selling 8,052 shares and holding 3,768 shares valued at approximately $1,458,000.
• Wall Street analysts are mixed on Adobe's stock, with one strong buy rating, thirteen buy ratings, and multiple price target reductions from firms like UBS Group and Royal Bank Of Canada.
• Adobe's most recent quarterly earnings exceeded expectations, reporting $5.31 earnings per share and $5.99 billion in revenue, reflecting a 10.7% year-over-year increase.

OFI Invest Asset Management cut its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 68.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,768 shares of the software company's stock after selling 8,052 shares during the quarter. OFI Invest Asset Management's holdings in Adobe were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advocate Group LLC lifted its stake in Adobe by 6.1% in the 2nd quarter. Advocate Group LLC now owns 14,551 shares of the software company's stock worth $5,629,000 after purchasing an additional 837 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Adobe by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,573 shares of the software company's stock valued at $23,056,000 after buying an additional 4,732 shares during the period. Summa Corp. increased its holdings in Adobe by 10.1% in the 2nd quarter. Summa Corp. now owns 1,901 shares of the software company's stock valued at $735,000 after purchasing an additional 175 shares during the last quarter. Sather Financial Group Inc increased its holdings in Adobe by 5.1% in the 2nd quarter. Sather Financial Group Inc now owns 125,071 shares of the software company's stock valued at $48,387,000 after purchasing an additional 6,058 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Adobe by 102.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 9,423 shares of the software company's stock valued at $3,645,000 after purchasing an additional 4,767 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research note on Friday, September 12th. Royal Bank Of Canada reduced their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Piper Sandler reduced their target price on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday, September 12th. Finally, TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $337.51 on Friday. The company has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. The company's 50 day simple moving average is $351.67 and its 200 day simple moving average is $370.59. Adobe Inc. has a 1 year low of $330.04 and a 1 year 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 announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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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