Sumitomo Mitsui Trust Group Inc. Sells 1,053 Shares of Adobe Inc. $ADBE

Key Points

• Sumitomo Mitsui Trust Group Inc. sold 1,053 shares of Adobe Inc., reducing its holdings by 0.1% to 1,399,103 shares valued at approximately $541,285,000.
• Several other institutional investors, including Schmidt P J Investment Management Inc. and GS Investments Inc., increased their positions in Adobe, indicating continued interest among investors.
• Analysts have mixed ratings on Adobe, with one downgrading it to a "sell" while others maintain "buy" ratings, resulting in a consensus target price of $433.41.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,399,103 shares of the software company's stock after selling 1,053 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.33% of Adobe worth $541,285,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. boosted its holdings in shares of Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock worth $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. boosted its holdings in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co boosted its holdings in shares of Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock worth $525,000 after acquiring an additional 26 shares during the period. Lifeworks Advisors LLC boosted its holdings in shares of Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. boosted its holdings in shares of Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company's stock worth $209,000 after acquiring an additional 27 shares during the period. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. Mizuho downgraded Adobe from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. DA Davidson reissued a "buy" rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research report on Wednesday, July 2nd. Finally, JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $433.41.

Adobe Stock Up 0.5%

Shares of NASDAQ:ADBE opened at $355.80 on Friday. The company has a fifty day moving average of $351.74 and a 200-day moving average of $368.63. The company has a market capitalization of $148.94 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.59 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 $327.50 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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 company had revenue of $5.99 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $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. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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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