Channing Global Advisors LLC Increases Holdings in Adobe Inc. $ADBE

Channing Global Advisors LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 4.1% during the second quarter, HoldingsChannel.com reports. The fund owned 14,994 shares of the software company’s stock after acquiring an additional 597 shares during the quarter. Adobe accounts for about 3.7% of Channing Global Advisors LLC’s holdings, making the stock its 10th largest position. Channing Global Advisors LLC’s holdings in Adobe were worth $5,801,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. 1248 Management LLC acquired a new position in Adobe in the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Adobe in the first quarter worth $26,000. LSV Asset Management boosted its stake 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 acquired a new position in Adobe in the first quarter worth $29,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Adobe during the first quarter valued at $30,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 2.9%

NASDAQ:ADBE opened at $337.51 on Monday. 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 company has a market cap of $141.28 billion, a PE ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a 50-day simple moving average of $351.67 and a 200 day simple moving average of $370.41.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Barclays increased their target price on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and an average target price of $433.41.

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.