L.M. Kohn & Company Reduces Holdings in Adobe Inc. $ADBE

L.M. Kohn & Company trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 33.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,717 shares of the software company’s stock after selling 862 shares during the quarter. L.M. Kohn & Company’s holdings in Adobe were worth $664,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PFG Advisors increased its stake in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC increased its stake in shares of Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after acquiring an additional 730 shares in the last quarter. Mcdaniel Terry & Co. increased its stake in shares of Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after acquiring an additional 5,298 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC bought a new stake in Adobe during the 2nd quarter valued at about $328,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Oppenheimer reduced their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One investment 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. According to MarketBeat, Adobe has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

Shares of ADBE stock opened at $359.91 on Wednesday. The company has a 50 day moving average price of $351.70 and a 200-day moving average price of $368.98. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The firm has a market capitalization of $150.66 billion, a PE ratio of 22.42, a P/E/G ratio of 1.60 and a beta of 1.49. 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 announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.91 billion. During the same period in the previous year, the business posted $4.65 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share 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.