Pictet North America Advisors SA Sells 841 Shares of Adobe Inc. $ADBE

Key Points

• Pictet North America Advisors SA has reduced its stake in Adobe Inc. by 11.3%, selling 841 shares during the second quarter, bringing its total holdings to 6,596 shares valued at approximately $2.55 million.
• Analysts have issued mixed ratings for Adobe, with price targets ranging from $405 to $470 and a consensus rating of "Moderate Buy".
• Adobe recently reported $5.31 EPS for Q3, exceeding expectations, with revenue up 10.7% year-over-year to $5.99 billion.

Pictet North America Advisors SA lowered its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,596 shares of the software company's stock after selling 841 shares during the period. Pictet North America Advisors SA's holdings in Adobe were worth $2,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Siemens Fonds Invest GmbH boosted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares during the period. 1248 Management LLC bought a new position in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe during the 1st quarter valued at about $26,000. SWAN Capital LLC purchased a new position in Adobe during the fourth quarter valued at $28,000. Finally, Copia Wealth Management purchased a new position in shares of Adobe in the 4th quarter worth about $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADBE. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research note on Friday, September 12th. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. BMO Capital Markets reduced 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. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. One equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Trading Down 0.5%

Shares of ADBE stock opened at $364.08 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market cap of $154.44 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company has a 50-day moving average of $355.82 and a two-hundred day moving average of $375.39. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The firm's revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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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