Taikang Asset Management Hong Kong Co Ltd Has $1.84 Million Stock Holdings in Adobe Inc. $ADBE

Key Points

• Taikang Asset Management Hong Kong Co Ltd reduced its stake in Adobe Inc. by 62.7%, now holding 4,789 shares worth approximately $1.84 million.
• Wall Street analysts have varied opinions on Adobe, with ratings including two Strong Buy, 15 Buy, eight Hold, and three Sell, pointing to a consensus price target of $467.58.
• Adobe reported $5.06 earnings per share for the recent quarter, surpassing estimates, with a revenue increase of 10.6% year-over-year.

Taikang Asset Management Hong Kong Co Ltd cut its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,789 shares of the software company's stock after selling 8,061 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Adobe were worth $1,837,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Eagle Strategies LLC raised its holdings in Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the period. RB Capital Management LLC raised its holdings in Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after purchasing an additional 22 shares during the period. Orin Green Financial LLC raised its holdings in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares during the period. Diligent Investors LLC raised its holdings in Adobe by 1.2% in the fourth quarter. Diligent Investors LLC now owns 2,160 shares of the software company's stock worth $961,000 after purchasing an additional 26 shares during the period. Finally, Second Line Capital LLC raised its holdings in Adobe by 3.5% in the fourth quarter. Second Line Capital LLC now owns 768 shares of the software company's stock worth $342,000 after purchasing an additional 26 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ADBE shares. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Melius lowered shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. Royal Bank Of Canada restated an "outperform" rating and set a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and an average target price of $467.58.

Adobe Stock Up 2.5%

Adobe stock opened at $362.09 on Monday. The company has a market cap of $153.60 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.51. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. The company has a fifty day simple moving average of $366.57 and a 200 day simple moving average of $389.32. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.48 earnings per share. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.

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.