Adobe Inc. $ADBE Shares Sold by Vision Capital Management Inc.

Key Points

• Vision Capital Management Inc. reduced its stake in Adobe Inc. by 24.5% during the second quarter, holding 10,320 shares worth approximately $3.99 million as of its latest filing.
• Several institutional investors increased their positions in Adobe, with Goldman Sachs Group Inc. significantly boosting its holdings by 68.3% during the first quarter.
• Adobe recently reported earnings of $5.31 per share for the quarter, surpassing analyst expectations and showing a 10.7% year-over-year revenue increase.

Vision Capital Management Inc. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,320 shares of the software company's stock after selling 3,354 shares during the quarter. Vision Capital Management Inc.'s holdings in Adobe were worth $3,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Adobe by 0.4% in the 1st 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Adobe by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Adobe by 2.4% during the 1st 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 worth $2,097,289,000 after purchasing an additional 126,688 shares during the period. Amundi grew its holdings in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADBE. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Robert W. Baird boosted their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $354.16 on Friday. The business's 50 day moving average is $355.36 and its two-hundred day moving average is $374.59. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The firm has a market cap of $150.23 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.58 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company posted $4.65 EPS. Adobe's quarterly revenue 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. Analysts forecast that Adobe Inc. will post 16.65 EPS 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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