Adage Capital Partners GP L.L.C. Sells 74,600 Shares of Adobe Inc. $ADBE

Key Points

• Adage Capital Partners GP L.L.C. sold 74,600 shares of Adobe Inc., reducing its holdings by 15%, and now owns approximately 421,978 shares valued at about $161.8 million.
• Adobe reported a Q2 earnings per share (EPS) of $5.06, exceeding estimates, along with revenues of $5.87 billion, reflecting a 10.6% increase year-over-year.
• Analysts have varied ratings on Adobe, with some firms upgrading their target prices while others have downgraded their ratings, resulting in a current average rating of "Moderate Buy".

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,978 shares of the software company's stock after selling 74,600 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.10% of Adobe worth $161,841,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. RB Capital Management LLC raised its stake in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares in the last quarter. Orin Green Financial LLC raised its stake in Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares in the last quarter. Diligent Investors LLC raised its stake in Adobe by 1.2% during the fourth quarter. Diligent Investors LLC now owns 2,160 shares of the software company's stock valued at $961,000 after purchasing an additional 26 shares in the last quarter. Second Line Capital LLC raised its stake in shares of Adobe by 3.5% in the fourth quarter. Second Line Capital LLC now owns 768 shares of the software company's stock valued at $342,000 after acquiring an additional 26 shares during the period. Finally, Vista Investment Management raised its stake in shares of Adobe by 3.1% in the fourth quarter. Vista Investment Management now owns 875 shares of the software company's stock valued at $389,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Up 1.4%

Shares of NASDAQ ADBE traded up $4.66 during mid-day trading on Friday, reaching $348.97. The company had a trading volume of 4,661,454 shares, compared to its average volume of 3,273,635. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $587.75. The business's 50-day moving average is $360.40 and its 200-day moving average is $383.12. The stock has a market cap of $148.03 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same period in the prior year, the business earned $4.48 EPS. The firm's quarterly revenue was up 10.6% on a year-over-year basis. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. Redburn Atlantic downgraded shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Finally, Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $452.67.

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.