Adobe Inc. $ADBE Shares Sold by Carr Financial Group Corp

Carr Financial Group Corp lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,078 shares of the software company’s stock after selling 133 shares during the quarter. Carr Financial Group Corp’s holdings in Adobe were worth $417,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares during the period. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Adobe by 68.3% during 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 acquiring an additional 1,856,544 shares during the period. Nuveen LLC bought a new stake in Adobe in the first quarter worth about $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Adobe by 1,482.7% in the 1st 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 last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADBE shares. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Wells Fargo & Company restated an “overweight” rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Finally, Oppenheimer cut their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Adobe Stock Down 0.6%

ADBE stock opened at $361.78 on Wednesday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market cap of $153.47 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48. The business’s 50-day simple moving average is $355.77 and its 200 day simple moving average is $375.30.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 57.54% and a net margin of 30.01%.The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.