Ellevest Inc. Cuts Holdings in Adobe Inc. $ADBE

Ellevest Inc. decreased its position in Adobe Inc. (NASDAQ:ADBE) by 5.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,460 shares of the software company’s stock after selling 182 shares during the period. Ellevest Inc.’s holdings in Adobe were worth $1,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings 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 buying an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 during the last quarter. Nuveen LLC acquired a new stake in Adobe in the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi boosted its holdings in 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 buying an additional 961,895 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Citigroup dropped their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $335.35 on Wednesday. The company’s 50-day moving average is $349.76 and its two-hundred day moving average is $368.72. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $140.38 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

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.