Adobe Inc. $ADBE Shares Sold by Bourne Lent Asset Management Inc.

by · The Markets Daily

Bourne Lent Asset Management Inc. lessened its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,146 shares of the software company’s stock after selling 210 shares during the period. Adobe makes up 8.4% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 3rd biggest position. Bourne Lent Asset Management Inc.’s holdings in Adobe were worth $21,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH grew its stake in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares during the last quarter. 1248 Management LLC bought a new stake in Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe during the first quarter worth about $26,000. SWAN Capital LLC bought a new stake in Adobe during the fourth quarter worth about $28,000. Finally, Copia Wealth Management bought a new stake in Adobe during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Piper Sandler decreased their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday. Melius cut shares of 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. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.63.

View Our Latest Research Report on Adobe

Adobe Stock Down 0.3%

Shares of ADBE stock opened at $349.36 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The firm’s fifty day moving average price is $357.32 and its two-hundred day moving average price is $378.97. The firm has a market capitalization of $148.20 billion, a P/E ratio of 21.77, a PEG ratio of 1.65 and a beta of 1.48.

Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business earned $4.65 EPS. The company’s 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, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).