Swedbank AB Sells 7,580 Shares of Adobe Inc. $ADBE

Key Points

• Swedbank AB reduced its stake in Adobe Inc. by 0.9%, selling 7,580 shares and now owns 808,635 shares valued at approximately $310.1 million.
• Adobe reported a quarterly earnings per share of $5.06, surpassing estimates, with revenue of $5.87 billion, a year-over-year increase of 10.6%.
• Institutional investors control 81.79% of Adobe's stock, with various hedge funds adjusting their holdings significantly during the 1st quarter.

Swedbank AB decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,635 shares of the software company's stock after selling 7,580 shares during the quarter. Swedbank AB owned 0.19% of Adobe worth $310,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. purchased a new stake in shares of Adobe in the 1st quarter valued at $34,000. PFG Advisors boosted its position in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after buying an additional 855 shares during the period. Krane Funds Advisors LLC boosted its position in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock valued at $533,000 after buying an additional 730 shares during the period. Financial Counselors Inc. grew its stake 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 valued at $24,105,000 after buying an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in shares of Adobe in the first quarter worth about $305,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.6%

Adobe stock traded down $2.26 on Monday, hitting $347.10. 6,760,024 shares of the stock traded hands, compared to its average volume of 4,336,047. 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 $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. 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 business's fifty day simple moving average is $357.32 and its 200 day simple moving average is $378.97.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the business earned $4.65 EPS. Adobe's quarterly 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. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday. Redburn Atlantic lowered Adobe from a "hold" rating to a "strong sell" rating and dropped their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Bank of America lifted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Evercore ISI decreased their price objective on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Citigroup dropped their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $435.63.

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.