Elefante Mark B Sells 85 Shares of Adobe Inc. $ADBE

Elefante Mark B trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 816 shares of the software company’s stock after selling 85 shares during the period. Elefante Mark B’s holdings in Adobe were worth $316,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADBE. Assenagon Asset Management S.A. grew its position in 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 valued at $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. grew its position in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $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 valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in 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 grew its position in 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. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 0.5%

Shares of ADBE opened at $339.32 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm has a market capitalization of $142.04 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The stock’s fifty day simple moving average is $351.68 and its 200-day simple moving average is $370.09.

Adobe (NASDAQ:ADBE) last issued its quarterly 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm’s revenue for the quarter 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, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. TD Cowen reduced their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Royal Bank Of Canada reduced their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

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.