Claro Advisors LLC Sells 495 Shares of Adobe Inc. $ADBE

Claro Advisors LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 41.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 712 shares of the software company’s stock after selling 495 shares during the period. Claro Advisors LLC’s holdings in Adobe were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ADBE. Assenagon Asset Management S.A. grew its position 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 worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. raised 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 worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC acquired a new position in Adobe during the first quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings 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 last quarter. Finally, Amundi boosted its holdings in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Adobe Trading Down 2.4%

Shares of NASDAQ:ADBE opened at $327.35 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52-week low of $324.55 and a 52-week high of $557.90. The company has a 50-day simple moving average of $348.81 and a 200 day simple moving average of $368.20. The company has a market capitalization of $137.03 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm 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. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research analyst reports. UBS Group cut their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. DA Davidson restated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Oppenheimer decreased their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. Finally, Barclays set a $465.00 price objective on shares of Adobe and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.