Lord Abbett & CO. LLC Lowers Stock Position in Adobe Inc. $ADBE

Key Points

• Lord Abbett & CO. LLC reduced its stock holdings in Adobe Inc. by 95.2%, owning only 4,655 shares after selling 93,190 shares in the first quarter, valuing its remaining stake at $1,785,000.
• Several other institutional investors increased their positions in Adobe, with Goldman Sachs Group Inc. boosting its holdings by 68.3%, bringing its total to approximately 4.58 million shares.
• Adobe's recent earnings report showed a profit of $5.06 per share, exceeding expectations and reflecting a 10.6% year-over-year revenue growth to $5.87 billion.

Lord Abbett & CO. LLC decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 95.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,655 shares of the software company's stock after selling 93,190 shares during the quarter. Lord Abbett & CO. LLC's holdings in Adobe were worth $1,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of Adobe in the 1st quarter worth about $34,000. PFG Advisors lifted its holdings in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after purchasing an additional 855 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock valued at $533,000 after purchasing an additional 730 shares during the last quarter. Burling Wealth Partners LLC purchased a new stake in Adobe during the fourth quarter valued at about $1,173,000. Finally, Financial Counselors Inc. lifted its holdings in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock valued at $24,105,000 after purchasing an additional 5,298 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer lowered 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. Melius downgraded shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 price target on the stock. in a report on Monday, August 11th. Rothschild & Co Redburn downgraded shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a report on Wednesday, July 2nd. Phillip Securities raised shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $467.58.

Adobe Trading Up 0.8%

Shares of Adobe stock traded up $2.9850 on Tuesday, hitting $360.2250. The stock had a trading volume of 1,735,553 shares, compared to its average volume of 3,781,458. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a one year low of $330.04 and a one year high of $587.75. The stock has a market cap of $152.81 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.68 and a beta of 1.51. The stock's 50-day simple moving average is $370.66 and its two-hundred day simple moving average is $391.57.

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 firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same quarter last year, the business earned $4.48 earnings per share. The business's 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. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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.