Adobe Inc. $ADBE Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 6.8% in the 2nd quarter, Holdings Channel reports. The firm owned 3,541 shares of the software company’s stock after selling 257 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Adobe were worth $1,370,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 308.1% during 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Adobe by 68.3% during 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 in the last quarter. Nuveen LLC acquired a new stake in shares of Adobe during the first quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Adobe by 1,482.7% during 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 in the last quarter. Finally, Amundi grew its stake in shares of Adobe by 24.7% during 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 in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Melius downgraded 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. Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. BMO Capital Markets lowered their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Robert W. Baird increased their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Finally, Barclays increased their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. One 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $346.74 on Friday. The business’s 50 day moving average is $353.22 and its 200-day moving average is $372.26. The stock has a market cap of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 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 twelve month low of $330.04 and a twelve month high of $557.90.

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

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.