BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 43,420 Shares of Adobe Inc. $ADBE

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 660,658 shares of the software company’s stock after selling 43,420 shares during the period. Adobe accounts for about 0.6% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s portfolio, making the stock its 25th largest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.16% of Adobe worth $255,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PFG Advisors increased its stake in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the last quarter. Lathrop Investment Management Co. increased its stake in Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares during the last quarter. Mcdaniel Terry & Co. increased its stake in Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after buying an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC acquired a new position in shares of Adobe during the 2nd quarter worth about $328,000. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Adobe during the 1st quarter worth about $305,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 0.6%

Shares of ADBE opened at $335.35 on Wednesday. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The firm has a market cap of $140.38 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The firm’s 50-day simple moving average is $349.76 and its 200 day simple moving average is $368.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business earned $4.65 EPS. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on ADBE. Cowen restated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. TD Cowen lowered their price objective 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. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Oppenheimer lowered their price objective 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, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.41.

Insider Buying and Selling

In related 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 owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

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.