Cidel Asset Management Inc. Has $11.06 Million Position in Adobe Inc. $ADBE

Key Points

• Cidel Asset Management Inc. reduced its holdings in Adobe by 21.8% in the 2nd quarter, now owning 28,574 shares worth $11.06 million.
• Several analysts have downgraded Adobe's stock, with Redburn Atlantic lowering their price target from $420 to $280 and other firms adjusting their ratings to "hold" or lower.
• Adobe reported a 10.7% year-over-year revenue increase, posting earnings of $5.31 per share and revising its FY 2025 guidance to $20.800-20.850 EPS.

Cidel Asset Management Inc. reduced its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,574 shares of the software company's stock after selling 7,950 shares during the period. Cidel Asset Management Inc.'s holdings in Adobe were worth $11,055,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Schmidt P J Investment Management Inc. lifted its holdings in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after buying an additional 25 shares during the period. GS Investments Inc. lifted its holdings in Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after buying an additional 26 shares during the period. Ted Buchan & Co increased its stake in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock valued at $525,000 after purchasing an additional 26 shares in the last quarter. Lifeworks Advisors LLC increased its stake in Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after purchasing an additional 27 shares in the last quarter. Finally, VanderPol Investments L.L.C. increased its stake in Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock valued at $209,000 after purchasing an additional 27 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Adobe in a research note on Wednesday, October 8th. Royal Bank Of Canada lowered their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Citigroup lowered their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of Adobe from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of "Hold" and an average price target of $433.41.

Adobe Stock Up 1.2%

Shares of ADBE stock opened at $333.26 on Friday. The firm has a fifty day moving average of $350.99 and a 200-day moving average of $368.75. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The company has a market capitalization of $139.50 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 earnings per share. The firm's revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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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