Adobe Inc. $ADBE Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. significantly reduced its stake in Adobe Inc. by 86.1%, leaving it with just 9,180 shares after selling 56,858 shares in the recent quarter.
• Adobe reported $5.06 EPS for the last quarter, surpassing analyst estimates of $4.97, with revenues reaching $5.87 billion, up 10.6% year-over-year.
• Institutional investors own approximately 81.79% of Adobe's stock, highlighting strong institutional interest in the company.

1832 Asset Management L.P. reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 86.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,180 shares of the software company's stock after selling 56,858 shares during the period. 1832 Asset Management L.P.'s holdings in Adobe were worth $3,521,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Eagle Strategies LLC boosted its holdings in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after acquiring an additional 22 shares in the last quarter. RB Capital Management LLC boosted its holdings in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after buying an additional 22 shares in the last quarter. Orin Green Financial LLC boosted its holdings in Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after buying an additional 23 shares in the last quarter. Diligent Investors LLC boosted its holdings in Adobe by 1.2% during the fourth quarter. Diligent Investors LLC now owns 2,160 shares of the software company's stock worth $961,000 after buying an additional 26 shares in the last quarter. Finally, Second Line Capital LLC boosted its holdings in Adobe by 3.5% during the fourth quarter. Second Line Capital LLC now owns 768 shares of the software company's stock worth $342,000 after buying an additional 26 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 0.7%

Shares of NASDAQ:ADBE traded down $2.41 during trading on Thursday, reaching $353.94. The stock had a trading volume of 3,102,669 shares, compared to its average volume of 3,751,900. The business has a fifty day moving average price of $364.81 and a 200-day moving average price of $388.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $150.14 billion, a P/E ratio of 22.65, a PEG ratio of 1.68 and a beta of 1.51. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company's revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.48 earnings per share. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on ADBE shares. Mizuho decreased their price objective on shares of Adobe from $575.00 to $530.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. DA Davidson reissued a "buy" rating and set a $500.00 price objective on shares of Adobe in a report on Friday, June 20th. BMO Capital Markets reissued an "outperform" rating and set a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. Oppenheimer reduced their price target on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Company 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.