Atalanta Sosnoff Capital LLC Cuts Stock Holdings in Adobe Inc. $ADBE

Key Points

• Atalanta Sosnoff Capital LLC decreased its stake in Adobe Inc. by 3.2%, selling 2,633 shares and retaining 80,196 shares valued at approximately $30.76 million.
• Several institutional investors have modified their positions in Adobe, with PFG Advisors increasing holdings by 20.8%, and Krane Funds Advisors LLC boosting its stake by 110.4% in the same quarter.
• Analysts have adjusted their ratings on Adobe, with a downgrade from buy to hold by Wall Street Zen and a reduction in price target by UBS Group from $430 to $400.

Atalanta Sosnoff Capital LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 80,196 shares of the software company's stock after selling 2,633 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in Adobe were worth $30,758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the period. 1248 Management LLC acquired a new stake in Adobe during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the 1st quarter worth about $26,000. SWAN Capital LLC acquired a new stake in Adobe during the 4th quarter worth about $28,000. Finally, Copia Wealth Management acquired a new stake in Adobe during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ ADBE traded up $4.66 during trading hours on Friday, reaching $348.97. The company's stock had a trading volume of 4,661,454 shares, compared to its average volume of 3,273,635. The firm has a market capitalization of $148.03 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. 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 company's 50-day moving average is $360.40 and its two-hundred day moving average is $382.60.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. BMO Capital Markets reissued an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a report on Friday, June 13th. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a report on Wednesday, July 2nd. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $452.67.

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.