Global X Japan Co. Ltd. Reduces Stock Holdings in Adobe Inc. $ADBE

Key Points

• Global X Japan Co. Ltd. reduced its holdings in Adobe Inc. by 8.9% in Q2, owning 10,916 shares worth $4.22 million at the end of the reporting period.
• Several institutional investors have recently acquired new positions in Adobe, with institutional ownership at 81.79% of the company's stock.
• Analyst ratings for Adobe vary, with one strong buy, fifteen buy, eight hold, and three sell ratings, indicating a consensus target price of $435.63.

Global X Japan Co. Ltd. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,916 shares of the software company's stock after selling 1,062 shares during the quarter. Adobe accounts for 0.4% of Global X Japan Co. Ltd.'s portfolio, making the stock its 29th largest position. Global X Japan Co. Ltd.'s holdings in Adobe were worth $4,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Copia Wealth Management acquired a new position in Adobe in the 4th quarter worth about $28,000. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter valued at approximately $28,000. 1248 Management LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the first quarter valued at approximately $26,000. Finally, Flaharty Asset Management LLC purchased a new position in Adobe in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADBE. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets lowered their price target on Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a research report on Friday, September 12th. One 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Stock Down 0.4%

Adobe stock opened at $365.90 on Friday. The company has a market capitalization of $155.21 billion, a P/E ratio of 22.80, a PEG ratio of 1.65 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The stock has a 50-day simple moving average of $355.88 and a 200-day simple moving average of $376.98. 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 issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts expect 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.