Candriam S.C.A. Has $18.47 Million Stock Position in Adobe Inc. $ADBE

Candriam S.C.A. lowered its position in Adobe Inc. (NASDAQ:ADBE) by 33.4% in the second quarter, Holdings Channel.com reports. The fund owned 47,726 shares of the software company’s stock after selling 23,937 shares during the period. Candriam S.C.A.’s holdings in Adobe were worth $18,465,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADBE. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Adobe has an average rating of “Hold” and a consensus price target of $433.41.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Adobe Stock Down 1.0%

Shares of NASDAQ ADBE opened at $333.60 on Friday. Adobe Inc. has a 12-month low of $323.03 and a 12-month high of $557.90. The firm’s 50-day simple moving average is $346.97 and its 200 day simple moving average is $367.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market cap of $139.64 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter last year, the company posted $4.65 EPS. The company’s quarterly 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. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share 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.