Boston Common Asset Management LLC Trims Stock Holdings in Adobe Inc. $ADBE

Key Points

• Boston Common Asset Management LLC reduced its Adobe Inc. stock holdings by 3.2% during the second quarter, ending with 26,658 shares valued at approximately $10.3 million.
• Multiple hedge funds adjusted their positions in Adobe, with Talbot Financial increasing its stake by 26.0%, while other firms acquired new shares, indicating a complex investor sentiment around the stock.
• Analyst ratings for Adobe show a mix of opinions, with one downgrade to “hold” and a price target range varying from $310 to $500, reflecting uncertainty in the stock's future performance.

Boston Common Asset Management LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,658 shares of the software company's stock after selling 877 shares during the quarter. Boston Common Asset Management LLC's holdings in Adobe were worth $10,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Talbot Financial LLC raised its holdings in shares of Adobe by 26.0% in the second quarter. Talbot Financial LLC now owns 46,157 shares of the software company's stock worth $17,857,000 after buying an additional 9,532 shares during the period. Elevate Capital Advisors LLC purchased a new stake in shares of Adobe in the second quarter worth approximately $2,002,000. Sava Infond d.o.o. raised its holdings in shares of Adobe by 3.3% in the second quarter. Sava Infond d.o.o. now owns 9,395 shares of the software company's stock worth $3,635,000 after buying an additional 300 shares during the period. 111 Capital raised its holdings in shares of Adobe by 523.3% in the second quarter. 111 Capital now owns 21,772 shares of the software company's stock worth $8,423,000 after buying an additional 18,279 shares during the period. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Adobe in the second quarter worth approximately $108,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADBE shares. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Citigroup dropped their price objective on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Finally, DA Davidson reissued a "buy" rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $433.41.

Adobe Trading Down 1.3%

NASDAQ ADBE opened at $346.74 on Friday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a fifty day simple moving average of $353.22 and a two-hundred day simple moving average of $372.26. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.99 billion during 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 revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous 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, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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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