Adobe Inc. $ADBE Stock Holdings Cut by Chicago Capital LLC

Chicago Capital LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 19.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,139 shares of the software company’s stock after selling 7,728 shares during the quarter. Chicago Capital LLC’s holdings in Adobe were worth $12,434,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after acquiring an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi lifted its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. UBS Group dropped their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. Evercore ISI lowered their price objective on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Barclays raised their target price on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Robert W. Baird lifted their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Finally, Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

ADBE opened at $359.42 on Tuesday. The company’s fifty day moving average price is $355.08 and its two-hundred day moving average price is $373.36. The company has a market cap of $150.45 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.62 and a beta of 1.48. The company has a current ratio of 1.02, a quick ratio of 1.02 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.

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