Cooper Investors PTY Ltd. Cuts Stake in Adobe Inc. $ADBE

Key Points

• Cooper Investors PTY Ltd. has reduced its stake in Adobe Inc. by 23.2%, now holding 14,253 shares valued at approximately $5.51 million.
• Adobe's stock has an average rating of "Moderate Buy" among analysts with a consensus price target of $435.63, despite varying ratings from different institutions.
• In its recent quarterly earnings report, Adobe surpassed expectations with $5.31 earnings per share and revenue of $5.99 billion, reflecting a 10.7% year-over-year increase.

Cooper Investors PTY Ltd. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,253 shares of the software company's stock after selling 4,306 shares during the period. Cooper Investors PTY Ltd.'s holdings in Adobe were worth $5,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ADBE. Garde Capital Inc. acquired a new position in Adobe during the first quarter worth about $34,000. PFG Advisors boosted its position in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after acquiring an additional 855 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after acquiring an additional 730 shares during the last quarter. Financial Counselors Inc. boosted its position in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after acquiring an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC acquired a new position in Adobe during the first quarter worth about $305,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 9th. UBS Group lowered their price target on shares of Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research report on Friday, September 12th. TD Cowen lowered their price target on shares of Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research report on Friday, September 12th. BMO Capital Markets lowered their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research report on Friday, September 12th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Trading Down 0.5%

Shares of Adobe stock traded down $1.82 on Monday, reaching $364.08. The company had a trading volume of 4,704,525 shares, compared to its average volume of 5,210,053. The firm's 50 day moving average price is $355.82 and its two-hundred day moving average price is $375.39. The firm has a market cap of $154.44 billion, a PE ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. 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 released its quarterly 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. The business 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 business's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm 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. Sell-side 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.