Mirae Asset Global Investments Co. Ltd. Sells 3,245 Shares of Adobe Inc. $ADBE

Key Points

• Mirae Asset Global Investments Co. Ltd. sold 3,245 shares of Adobe Inc., reducing its stake by 2.0%, and now holds 156,107 shares valued at approximately $60.4 million.
• Adobe's quarterly earnings exceeded analyst expectations, reporting $5.31 EPS and revenue of $5.99 billion, with a year-over-year revenue growth of 10.7%.
• Equities analysts have varying outlooks on Adobe, with an average consensus price target of $433.41 and ratings ranging from "Strong Buy" to "Sell."

Mirae Asset Global Investments Co. Ltd. reduced its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,107 shares of the software company's stock after selling 3,245 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Adobe were worth $60,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Garde Capital Inc. bought a new stake in shares of Adobe during the first quarter worth about $34,000. PFG Advisors increased its position in shares of 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 in the last quarter. Krane Funds Advisors LLC increased its position in shares of 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 in the last quarter. Financial Counselors Inc. increased its position in shares of 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 in the last quarter. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Adobe during the first quarter worth about $305,000. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADBE shares. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Royal Bank Of Canada decreased their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. DA Davidson reissued a "buy" rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Finally, Barclays boosted their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $351.48 on Friday. The firm has a market cap of $147.13 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90. The firm's 50-day simple moving average is $353.70 and its two-hundred day simple moving average is $372.68.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 earnings per share. 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 analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe 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.

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