Lbp Am Sa Sells 6,970 Shares of Adobe Inc. $ADBE

Lbp Am Sa decreased its position in Adobe Inc. (NASDAQ:ADBE) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,890 shares of the software company’s stock after selling 6,970 shares during the quarter. Adobe makes up approximately 1.0% of Lbp Am Sa’s portfolio, making the stock its 21st largest position. Lbp Am Sa’s holdings in Adobe were worth $68,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe in the 1st quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter worth about $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 1.9%

Shares of ADBE opened at $352.75 on Wednesday. The business’s 50-day moving average price is $354.68 and its 200-day moving average price is $373.21. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The stock has a market cap of $147.66 billion, a PE ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48. 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 posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior 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, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. UBS Group cut their price target 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. Robert W. Baird upped their price objective on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Monday, June 16th. TD Cowen dropped their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a report on Wednesday, July 2nd. Finally, Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $433.41.

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.