Adobe Inc. $ADBE Shares Sold by SageView Advisory Group LLC

Key Points

• SageView Advisory Group LLC reduced its stake in Adobe Inc. by 12.7%, selling 805 shares during the first quarter, leaving them with 5,528 shares valued at $2.12 million.
• Adobe reported earnings of $5.06 per share, surpassing estimates, with revenue of $5.87 billion reflecting a 10.6% increase year-over-year.
• Several analysts have modified their price targets for Adobe, with Citigroup lowering theirs from $465 to $450, while Wall Street Zen upgraded the stock from a "hold" to a "buy" rating.

SageView Advisory Group LLC lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,528 shares of the software company's stock after selling 805 shares during the period. SageView Advisory Group LLC's holdings in Adobe were worth $2,120,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Advisory Alpha LLC grew its stake in shares of Adobe by 7.7% in the first quarter. Advisory Alpha LLC now owns 781 shares of the software company's stock worth $300,000 after acquiring an additional 56 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Adobe during the 1st quarter worth $219,000. Alaethes Wealth LLC lifted its position in shares of Adobe by 3.7% during the 1st quarter. Alaethes Wealth LLC now owns 6,300 shares of the software company's stock worth $2,416,000 after purchasing an additional 224 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Adobe during the 1st quarter worth $912,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Adobe by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 1.3%

Shares of NASDAQ ADBE opened at $354.06 on Wednesday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75. The company has a market capitalization of $150.19 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.70 and a beta of 1.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The firm's 50-day moving average is $359.07 and its two-hundred day moving average is $381.31.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADBE shares. Citigroup decreased their price objective on shares of Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. UBS Group reduced their price target on shares of Adobe from $430.00 to $400.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. Evercore ISI reissued an "outperform" rating and issued a $475.00 price target on shares of Adobe in a research report on Friday, June 13th. Stifel Nicolaus reduced their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Two 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 stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average price target of $446.74.

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.

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