Adobe Inc. $ADBE Stock Position Lowered by Bennett Selby Investments LP

Bennett Selby Investments LP lessened its position in Adobe Inc. (NASDAQ:ADBE) by 28.0% in the 2nd quarter, Holdings Channel reports. The fund owned 1,606 shares of the software company’s stock after selling 625 shares during the period. Bennett Selby Investments LP’s holdings in Adobe were worth $621,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in Adobe by 308.1% in the 2nd 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 during the period. Goldman Sachs Group Inc. increased its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC acquired a new position in Adobe in the 1st quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake 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 buying an additional 1,216,351 shares during the period. Finally, Amundi increased its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADBE. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Evercore ISI dropped their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

Shares of Adobe stock opened at $359.42 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The firm has a fifty day moving average price of $355.08 and a two-hundred day moving average price of $373.36. The company has a market cap of $150.45 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last released 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 net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm 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. Analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.