Bank Julius Baer & Co. Ltd Zurich Sells 46,621 Shares of Adobe Inc. $ADBE

Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,870 shares of the software company’s stock after selling 46,621 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.13% of Adobe worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Brighton Jones LLC lifted 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 worth $3,588,000 after buying an additional 167 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Adobe by 11.7% during the 1st quarter. Cetera Investment Advisers now owns 102,627 shares of the software company’s stock worth $39,360,000 after acquiring an additional 10,785 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Adobe by 78.5% during the 1st quarter. ARK Investment Management LLC now owns 862 shares of the software company’s stock valued at $331,000 after acquiring an additional 379 shares during the last quarter. Intellus Advisors LLC grew its holdings in shares of Adobe by 1.9% in the first quarter. Intellus Advisors LLC now owns 1,830 shares of the software company’s stock valued at $702,000 after purchasing an additional 34 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Adobe by 81.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 469,871 shares of the software company’s stock worth $180,210,000 after purchasing an additional 211,531 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research reports. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average price target of $428.96.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’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 completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Adobe Price Performance

Shares of ADBE stock opened at $324.19 on Monday. The stock has a 50 day moving average price of $343.44 and a 200 day moving average price of $364.95. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $135.71 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.51 and a beta of 1.47.

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

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.