Horizon Bancorp Inc. IN Lowers Stake in Adobe Inc. $ADBE

Horizon Bancorp Inc. IN reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 418 shares of the software company’s stock after selling 60 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Adobe were worth $162,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADBE. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 308.1% during 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 acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake 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 valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Nuveen LLC purchased a new position in Adobe in the 1st quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake 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 valued at $498,000 after buying an additional 1,216,351 shares in the last quarter. Finally, Amundi lifted its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ADBE shares. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Royal Bank Of Canada decreased their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. TD Cowen decreased their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Oppenheimer decreased their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Finally, Stifel Nicolaus cut their price objective on shares of Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 0.4%

ADBE stock opened at $347.47 on Friday. The company has a market cap of $145.45 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.56 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a 50-day moving average of $351.88 and a two-hundred day moving average of $371.24.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior 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. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.