Asset Management One Co. Ltd. Reduces Stock Position in Adobe Inc. $ADBE

Asset Management One Co. Ltd. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 14.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,831 shares of the software company’s stock after selling 32,679 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Adobe were worth $72,281,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ADBE. Assenagon Asset Management S.A. increased its holdings in shares of 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 acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new stake in shares of Adobe in the 1st quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Adobe by 1,482.7% during 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 purchasing an additional 1,216,351 shares during the period. Finally, Amundi boosted its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $354.12 on Friday. The business has a 50 day moving average price of $351.74 and a 200 day moving average price of $368.63. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a market cap of $148.23 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.59 and a beta of 1.49. 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 (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 EPS. 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. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a research report on Wednesday, July 2nd. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. Citigroup dropped their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $433.41.

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.