Adobe Inc. $ADBE Shares Sold by Border to Coast Pensions Partnership Ltd

Key Points

• Border to Coast Pensions Partnership Ltd reduced its stake in Adobe Inc. by 72.1% in Q2, holding 27,570 shares worth approximately $10.67 million.
• Institutional investors own 81.79% of Adobe's stock, with several firms increasing their holdings in recent quarters.
• Adobe reported earnings of $5.31 per share, exceeding estimates and signaling a 10.7% revenue growth year-over-year.

Border to Coast Pensions Partnership Ltd trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 72.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,570 shares of the software company's stock after selling 71,351 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in Adobe were worth $10,666,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Siemens Fonds Invest GmbH grew its stake in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. 1248 Management LLC purchased a new stake in Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe in the 1st quarter valued at about $26,000. SWAN Capital LLC purchased a new stake in Adobe in the 4th quarter valued at about $28,000. Finally, Copia Wealth Management purchased a new stake in Adobe in the 4th quarter valued at about $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ ADBE traded down $1.82 during mid-day trading on Monday, reaching $364.08. 4,704,525 shares of the stock were exchanged, compared to its average volume of 3,959,226. The business's 50 day moving average is $355.88 and its 200-day moving average is $375.99. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a market capitalization of $154.44 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period 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 forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report 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 report on Monday, September 8th. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Melius downgraded shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price on the stock. in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $435.63.

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.