Adobe Inc. $ADBE Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,423 shares of the software company’s stock after selling 783 shares during the period. Bessemer Group Inc.’s holdings in Adobe were worth $6,739,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADBE. 1248 Management LLC acquired a new stake in shares of Adobe during the first quarter worth $25,000. Flaharty Asset Management LLC acquired a new stake in shares of Adobe during the first quarter worth $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the first quarter worth $30,000. Nexus Investment Management ULC acquired a new stake in shares of Adobe during the second quarter worth $31,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Adobe by 128.6% during the first quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock worth $39,000 after buying an additional 63 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Down 6.1%

ADBE opened at $337.86 on Thursday. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $351.39 and a two-hundred day moving average of $368.87. The stock has a market capitalization of $141.43 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.61 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. 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 expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. UBS Group decreased their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Royal Bank Of Canada decreased their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus 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.