Adobe Inc. $ADBE Shares Sold by Pictet North America Advisors SA

Pictet North America Advisors SA trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,596 shares of the software company’s stock after selling 841 shares during the quarter. Pictet North America Advisors SA’s holdings in Adobe were worth $2,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. lifted its holdings in Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. lifted its position in shares of Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co boosted its holdings in shares of Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares in the last quarter. Lifeworks Advisors LLC grew its position in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock valued at $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its stake in Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ADBE shares. Bank of America lifted their target price on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Robert W. Baird increased their target price on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.63.

Adobe Stock Down 0.5%

Shares of Adobe stock opened at $364.08 on Tuesday. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The stock has a market cap of $154.44 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $355.82 and a 200 day moving average price of $375.39.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS 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 company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The firm’s quarterly revenue 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. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.