OVERSEA CHINESE BANKING Corp Ltd Has $28.10 Million Stock Position in Adobe Inc. $ADBE

OVERSEA CHINESE BANKING Corp Ltd trimmed its position 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 & Exchange Commission. The firm owned 72,716 shares of the software company’s stock after selling 20,321 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Adobe were worth $28,104,000 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. 1248 Management LLC bought a new position in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter worth about $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe during the second quarter worth about $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. Barclays raised their target price on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Oppenheimer cut their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Down 0.2%

NASDAQ ADBE opened at $353.52 on Monday. The stock has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.58 and a beta of 1.49. The stock’s 50 day moving average price is $351.71 and its two-hundred day moving average price is $368.95. 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 Inc. has a 52 week low of $327.50 and a 52 week high of $557.90.

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 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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 anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.