Pallas Capital Advisors LLC Sells 2,161 Shares of Adobe Inc. $ADBE

Pallas Capital Advisors LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,104 shares of the software company's stock after selling 2,161 shares during the quarter. Pallas Capital Advisors LLC's holdings in Adobe were worth $7,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its stake in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after purchasing an additional 126,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Adobe by 12.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after purchasing an additional 600,146 shares during the period. Finally, Amundi boosted its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. Institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADBE shares. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. Bank of America raised their price target on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a report on Friday, June 13th. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Finally, BMO Capital Markets lowered their price target on Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $435.63.

Adobe Price Performance

ADBE opened at $352.73 on Wednesday. The stock's 50 day simple moving average is $356.13 and its 200 day simple moving average is $378.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm has a market cap of $149.63 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.57 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (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 return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company 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. As a group, analysts predict 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.

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.