Lazard Freres Gestion S.A.S. Sells 32,020 Shares of Adobe Inc. $ADBE

Lazard Freres Gestion S.A.S. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 25.8% in the second quarter, Holdings Channel reports. The fund owned 92,147 shares of the software company’s stock after selling 32,020 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Adobe were worth $35,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AlTi Global Inc. grew its position in shares of Adobe by 1.0% during the 2nd quarter. AlTi Global Inc. now owns 21,633 shares of the software company’s stock valued at $8,368,000 after acquiring an additional 220 shares during the period. 180 Wealth Advisors LLC grew its position in shares of Adobe by 5.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 2,036 shares of the software company’s stock valued at $788,000 after acquiring an additional 103 shares during the period. Smith Group Asset Management LLC grew its position in shares of Adobe by 3.8% during the 2nd quarter. Smith Group Asset Management LLC now owns 50,194 shares of the software company’s stock valued at $19,419,000 after acquiring an additional 1,841 shares during the period. FSM Wealth Advisors LLC grew its position in shares of Adobe by 1.1% during the 2nd quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after acquiring an additional 30 shares during the period. Finally, KPP Advisory Services LLC grew its position in shares of Adobe by 6.7% during the 2nd quarter. KPP Advisory Services LLC now owns 1,216 shares of the software company’s stock valued at $470,000 after acquiring an additional 76 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADBE. Wall Street Zen cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. UBS Group dropped their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Finally, Barclays upped their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $354.12 on Friday. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $148.23 billion, a PE ratio of 22.06, a P/E/G ratio of 1.59 and a beta of 1.49. The company’s 50 day simple moving average is $351.74 and its two-hundred day simple moving average is $368.63.

Adobe (NASDAQ:ADBE) last issued 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. The firm had revenue of $5.99 billion for 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 business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.