Union Bancaire Privee UBP SA Trims Stock Holdings in Adobe Inc. $ADBE

Key Points

• Union Bancaire Privee UBP SA reduced its holdings in Adobe Inc. by 14.3%, owning 141,586 shares valued at approximately $55.3 million.
• Several large investors, including Assenagon Asset Management and Goldman Sachs, significantly increased their stakes in Adobe during the second quarter.
• Adobe reported a 10.7% year-over-year revenue increase, with earnings per share of $5.31 for the latest quarter, surpassing estimates.

Union Bancaire Privee UBP SA decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,586 shares of the software company's stock after selling 23,629 shares during the period. Adobe accounts for about 1.1% of Union Bancaire Privee UBP SA's holdings, making the stock its 26th biggest position. Union Bancaire Privee UBP SA's holdings in Adobe were worth $55,277,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ADBE. Assenagon Asset Management S.A. increased its stake in shares of Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Nuveen LLC bought a new position in shares of Adobe in the first quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after acquiring an additional 1,216,351 shares during the period. Finally, Amundi boosted its position in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after acquiring an additional 961,895 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. BMO Capital Markets cut their price objective on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a research report on Friday, September 12th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Barclays raised their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Finally, Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Adobe has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Trading Down 0.3%

Shares of Adobe stock opened at $359.42 on Tuesday. 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 $150.45 billion, a PE ratio of 22.39, a PEG ratio of 1.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50 day simple moving average of $355.08 and a two-hundred day simple moving average of $373.36.

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

Adobe Company 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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