Bailard Inc. Lowers Stock Holdings in Adobe Inc. $ADBE

Bailard Inc. lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.6% during the 2nd quarter, Holdings Channel reports. The firm owned 38,814 shares of the software company’s stock after selling 5,077 shares during the period. Bailard Inc.’s holdings in Adobe were worth $15,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Adobe by 147.3% in the 1st quarter. Edgestream Partners L.P. now owns 3,198 shares of the software company’s stock worth $1,227,000 after buying an additional 1,905 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Adobe by 12.2% in the 1st quarter. Apollon Wealth Management LLC now owns 14,289 shares of the software company’s stock worth $5,480,000 after buying an additional 1,558 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of 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 buying an additional 1,216,351 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. raised its position in shares of Adobe by 211.5% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 3,909 shares of the software company’s stock valued at $1,499,000 after buying an additional 2,654 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ADBE. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. TD Cowen cut their target price on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research report on Monday, August 11th. Piper Sandler cut their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Up 1.3%

Shares of NASDAQ ADBE opened at $333.22 on Wednesday. Adobe Inc. has a twelve month low of $323.03 and a twelve month high of $557.90. The firm has a market cap of $139.49 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The business has a fifty day simple moving average of $347.41 and a two-hundred day simple moving average of $367.86. 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 (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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 expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the business’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 completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.