Kornitzer Capital Management Inc. KS Reduces Holdings in Adobe Inc. $ADBE

Kornitzer Capital Management Inc. KS cut its position in Adobe Inc. (NASDAQ:ADBE) by 81.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,395 shares of the software company’s stock after selling 6,045 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Adobe were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Adobe by 68.3% during 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 in the last quarter. Nuveen LLC acquired a new stake in Adobe during the 1st quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi raised its position 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 in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Friday. Redburn Atlantic cut shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price target for the stock from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $353.52 on Monday. The company has a market cap of $147.98 billion, a PE ratio of 22.03, a P/E/G ratio of 1.58 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The firm has a 50-day simple moving average of $351.71 and a 200 day simple moving average of $368.95. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $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 anticipate that Adobe Inc. will post 16.65 EPS for the current year.

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.