Adobe Inc. $ADBE Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,277,377 shares of the software company’s stock after selling 253,234 shares during the period. Bank of New York Mellon Corp owned 1.48% of Adobe worth $2,428,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth $25,000. Flaharty Asset Management LLC bought a new position in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the 1st quarter valued at about $30,000. Nexus Investment Management ULC bought a new stake in shares of Adobe during the 2nd quarter worth about $31,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Adobe by 44.9% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after acquiring an additional 31 shares during the period. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ADBE. Oppenheimer cut their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Piper Sandler reduced their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 target price on shares of Adobe in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

ADBE opened at $340.31 on Monday. The firm has a market capitalization of $142.45 billion, a P/E ratio of 21.20, a PEG ratio of 1.51 and a beta of 1.49. The stock has a fifty day moving average of $350.67 and a 200-day moving average of $368.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. 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. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal 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.