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

Checchi Capital Advisers LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,541 shares of the software company’s stock after selling 257 shares during the period. Checchi Capital Advisers LLC’s holdings in Adobe were worth $1,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Elevate Capital Advisors LLC purchased a new position in Adobe in the second quarter valued at $2,002,000. Sava Infond d.o.o. boosted its holdings in Adobe by 3.3% in the second quarter. Sava Infond d.o.o. now owns 9,395 shares of the software company’s stock valued at $3,635,000 after purchasing an additional 300 shares during the period. 111 Capital boosted its holdings in Adobe by 523.3% in the second quarter. 111 Capital now owns 21,772 shares of the software company’s stock valued at $8,423,000 after purchasing an additional 18,279 shares during the period. Hennessy Advisors Inc. purchased a new position in Adobe in the second quarter valued at $108,000. Finally, QRG Capital Management Inc. boosted its holdings in Adobe by 2.1% in the second quarter. QRG Capital Management Inc. now owns 73,392 shares of the software company’s stock valued at $28,394,000 after purchasing an additional 1,509 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays lifted their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Piper Sandler decreased their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. TD Cowen reduced their target price on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Price Performance

ADBE stock opened at $346.74 on Friday. Adobe Inc. has a 1 year low of $330.04 and a 1 year 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 stock’s 50 day moving average price is $353.22 and its 200 day moving average price is $372.26. The firm has a market cap of $145.15 billion, a P/E ratio of 21.60, a PEG ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its earnings results 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. 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 quarter in the prior year, the company earned $4.65 EPS. Adobe’s 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. On average, sell-side analysts expect 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.