Adobe Inc. $ADBE Shares Sold by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC reduced its stake in Adobe by 5.0%, selling 1,702 shares, and now holds 32,532 shares valued at approximately $12.6 million.
• Adobe's stock has a market capitalization of $148.20 billion and its earnings surpassed analysts' expectations with $5.31 earnings per share reported for the latest quarter.
• Analysts have mixed ratings on Adobe, with consensus price target at $435.63 that indicates potential upward movement for investors, despite some downgrades to 'sell' ratings.

Parallel Advisors LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,532 shares of the software company's stock after selling 1,702 shares during the period. Parallel Advisors LLC's holdings in Adobe were worth $12,586,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after acquiring an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 valued at $2,504,685,000 after acquiring an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $2,097,289,000 after acquiring an additional 126,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Adobe by 12.7% during 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 buying an additional 600,146 shares during the last quarter. Finally, Amundi increased its holdings in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.6%

NASDAQ:ADBE traded down $2.26 on Monday, reaching $347.10. The stock had a trading volume of 6,760,024 shares, compared to its average volume of 4,336,047. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $356.72 and a 200 day moving average of $378.33. The stock has a market cap of $147.24 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts' expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. TD Cowen dropped their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a report on Wednesday, July 2nd. Piper Sandler dropped their price objective on Adobe from $500.00 to $470.00 and set an "overweight" rating for the company in a report on Friday. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada decreased their price target 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. Two analysts have 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $435.63.

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.