Banco Santander S.A. Sells 41 Shares of Adobe Inc. $ADBE

Banco Santander S.A. reduced its position in Adobe Inc. (NASDAQ:ADBE) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,330 shares of the software company’s stock after selling 41 shares during the quarter. Banco Santander S.A.’s holdings in Adobe were worth $27,209,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC bought a new position in Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the 1st quarter valued at about $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe in the 2nd quarter valued at about $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 0.2%

NASDAQ:ADBE opened at $353.52 on Monday. The firm’s 50 day simple moving average is $351.71 and its 200 day simple moving average is $368.95. 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 one year low of $327.50 and a one year high of $557.90. The company has a market cap of $147.98 billion, a PE ratio of 22.03, a P/E/G ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the company earned $4.65 EPS. The firm’s revenue 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. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research note on Friday. Piper Sandler reduced their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Citigroup reduced their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $433.41.

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.