Mirabaud & Cie SA reduced its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 85.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,370 shares of the software company's stock after selling 8,128 shares during the period. Mirabaud & Cie SA's holdings in Adobe were worth $530,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Garde Capital Inc. purchased a new stake in shares of Adobe in the first quarter worth about $34,000. PFG Advisors lifted its position in shares of Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after buying an additional 855 shares in the last quarter. Krane Funds Advisors LLC lifted its position in shares of Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after buying an additional 730 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after buying an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of Adobe in the first quarter worth about $305,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on ADBE shares. UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research report on Friday. DA Davidson restated a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday. Oppenheimer decreased their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 9th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Adobe presently has an average rating of "Moderate Buy" and a consensus target price of $435.63.
View Our Latest Research Report on ADBE
Adobe Trading Down 0.3%
Shares of NASDAQ ADBE opened at $349.36 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The business's 50 day moving average price is $357.32 and its 200-day moving average price is $378.97. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The company has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.65 and a beta of 1.48.
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 for the quarter, topping 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 the consensus estimate of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The company'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. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.
About Adobe
(
Free Report)
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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