Union Bancaire Privee UBP SA Sells 23,629 Shares of Adobe Inc. $ADBE

Union Bancaire Privee UBP SA trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 14.3% in the second quarter, HoldingsChannel reports. The fund owned 141,586 shares of the software company’s stock after selling 23,629 shares during the period. Adobe makes up 1.1% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 26th biggest position. Union Bancaire Privee UBP SA’s holdings in Adobe were worth $55,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Robbins Farley raised its holdings in Adobe by 26.0% during the 2nd quarter. Robbins Farley now owns 4,857 shares of the software company’s stock valued at $1,879,000 after buying an additional 1,001 shares during the last quarter. Mainsail Financial Group LLC raised its holdings in Adobe by 8.7% during the 2nd quarter. Mainsail Financial Group LLC now owns 3,344 shares of the software company’s stock valued at $1,218,000 after buying an additional 268 shares during the last quarter. HCR Wealth Advisors raised its holdings in Adobe by 2.6% during the 2nd quarter. HCR Wealth Advisors now owns 3,429 shares of the software company’s stock valued at $1,327,000 after buying an additional 87 shares during the last quarter. Poinciana Advisors Group LLC bought a new stake in Adobe during the 2nd quarter valued at $460,000. Finally, Centennial Wealth Advisory LLC bought a new stake in Adobe during the 2nd quarter valued at $218,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 0.3%

NASDAQ:ADBE opened at $359.42 on Tuesday. The firm’s 50-day moving average price is $355.08 and its 200-day moving average price is $373.36. The company has a market capitalization of $150.45 billion, a PE ratio of 22.39, a P/E/G ratio of 1.62 and a beta of 1.48. 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 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm posted $4.65 EPS. Adobe’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, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADBE shares. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Bank of America upped their price target on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a report on Friday, June 13th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. TD Cowen reduced their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Finally, Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price 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.