Cidel Asset Management Inc. Sells 7,950 Shares of Adobe Inc. $ADBE

Cidel Asset Management Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 21.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,574 shares of the software company’s stock after selling 7,950 shares during the period. Cidel Asset Management Inc.’s holdings in Adobe were worth $11,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. lifted its stake in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new stake in Adobe in the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Amundi lifted its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $333.26 on Friday. 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 12 month low of $327.50 and a 12 month high of $557.90. The firm has a market cap of $139.50 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.49 and a beta of 1.49. The company’s 50-day moving average price is $350.99 and its two-hundred day moving average price is $368.75.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm 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. On average, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. UBS Group cut their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Oppenheimer cut their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

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.