Amundi Reduces Stake in Adobe Inc. $ADBE

Amundi reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,145,637 shares of the software company’s stock after selling 702,884 shares during the quarter. Adobe makes up about 0.5% of Amundi’s holdings, making the stock its 29th biggest holding. Amundi owned about 0.98% of Adobe worth $1,568,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter valued at approximately $25,000. LSV Asset Management raised its holdings in Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Adobe during the first quarter valued at $29,000. Nexus Investment Management ULC bought a new stake in shares of Adobe during the 2nd quarter valued at $31,000. Finally, Horizon Financial Services LLC grew its position in shares of Adobe by 4,000.0% in the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after buying an additional 80 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 0.6%

Shares of NASDAQ:ADBE opened at $328.73 on Friday. The stock’s 50-day simple moving average is $336.77 and its two-hundred day simple moving average is $360.66. The stock has a market capitalization of $137.61 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.20 and a beta of 1.54. 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.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’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 firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent research reports. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Piper Sandler lowered their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price of $427.70.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by insiders.

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.