Pensionfund Sabic Cuts Stock Position in Adobe Inc. $ADBE

Pensionfund Sabic cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,700 shares of the software company’s stock after selling 300 shares during the quarter. Pensionfund Sabic’s holdings in Adobe were worth $2,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. Brighton Jones LLC increased its position in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock worth $12,882,000 after acquiring an additional 756 shares during the last quarter. Sora Investors LLC acquired a new stake in shares of Adobe in the fourth quarter worth approximately $10,693,000. Silvercrest Asset Management Group LLC boosted its stake in shares of Adobe by 0.8% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 11,986 shares of the software company’s stock worth $5,330,000 after acquiring an additional 101 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its stake in shares of Adobe by 41.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 2,920 shares of the software company’s stock worth $1,298,000 after acquiring an additional 862 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Oppenheimer lowered their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.63.

Adobe Stock Down 0.3%

Shares of NASDAQ:ADBE opened at $349.36 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $357.32 and a two-hundred day moving average of $379.80. The stock has a market cap of $148.20 billion, a P/E ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 56.30% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business 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, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current 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.