Adobe Inc. $ADBE Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its position in Adobe by 25.1%, selling 529,069 shares and owning 1,580,250 shares worth approximately $606 million.
• Other institutional investors have been active, with GAMMA Investing LLC increasing its stake by 46,806.6%, owning 2,990,767 shares valued at $1.15 billion.
• Adobe's stock has seen a 3.1% decline, with a recent opening price of $345.63, alongside a reported quarterly EPS of $5.06, beating consensus estimates by $0.09.

Alliancebernstein L.P. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,580,250 shares of the software company's stock after selling 529,069 shares during the period. Alliancebernstein L.P. owned 0.37% of Adobe worth $606,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new position in Adobe during the 1st quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADBE shares. BMO Capital Markets reiterated an "outperform" rating and set a $450.00 target price on shares of Adobe in a research note on Friday, June 13th. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Evercore ISI reissued an "outperform" rating and issued a $475.00 target price on shares of Adobe in a report on Friday, June 13th. UBS Group cut their price target on Adobe from $430.00 to $400.00 and set a "neutral" rating for the company in a research note on Friday. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average target price of $459.52.

Adobe Stock Down 3.1%

ADBE stock opened at $345.63 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $362.73 and its 200 day moving average price is $384.96. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $587.75. The company has a market cap of $146.62 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.69 and a beta of 1.48.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the firm earned $4.48 EPS. The company's revenue for the quarter 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. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

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