Nomura Asset Management Co. Ltd. Sells 56,648 Shares of Adobe Inc. $ADBE

Nomura Asset Management Co. Ltd. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 18.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,969 shares of the software company’s stock after selling 56,648 shares during the period. Nomura Asset Management Co. Ltd. owned 0.06% of Adobe worth $98,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after acquiring an additional 171,547 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Adobe by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Amundi grew its position in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Adobe by 6.8% in the first quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock worth $1,432,680,000 after buying an additional 238,542 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on ADBE shares. Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, Piper Sandler dropped their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.7%

NASDAQ ADBE opened at $331.11 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $323.03 and a 52 week high of $557.90. The firm has a market capitalization of $138.60 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.51 and a beta of 1.47. The company has a fifty day moving average of $346.61 and a two-hundred day moving average of $367.07.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period 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. On average, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate 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.