Fairvoy Private Wealth LLC Has $249,000 Holdings in Adobe Inc. $ADBE

Key Points

• Fairvoy Private Wealth LLC significantly reduced its holdings in Adobe Inc. by 90.5% in the second quarter, owning 643 shares worth $249,000 after selling 6,143 shares.
• Several institutional investors, including Assenagon Asset Management S.A. and Goldman Sachs Group Inc., have increased their stakes in Adobe, reflecting a growing institutional interest in the company despite Fairvoy's divestment.
• Adobe reported a 10.7% year-over-year revenue increase in its latest quarterly earnings, with earnings per share of $5.31, surpassing analyst expectations.

Fairvoy Private Wealth LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 90.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 643 shares of the software company's stock after selling 6,143 shares during the period. Fairvoy Private Wealth LLC's holdings in Adobe were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. Assenagon Asset Management S.A. raised its holdings in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC purchased a new stake in Adobe in the 1st quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several analyst reports. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Piper Sandler decreased their price objective on shares of Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. TD Cowen decreased their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research note on Friday, September 12th. Finally, Morgan Stanley downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Stock Down 1.3%

ADBE opened at $346.74 on Friday. The company has a 50 day moving average of $353.22 and a 200 day moving average of $372.37. The company has a market cap of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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 company 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%. Adobe's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last 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. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current 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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