Adobe Inc. $ADBE Stake Reduced by Douglass Winthrop Advisors LLC

Key Points

• Douglass Winthrop Advisors LLC has decreased its holdings in Adobe Inc. by 60%, selling 1,510 shares and now owning a total of 1,007 shares valued at approximately $386,000.
• Multiple analysts have adjusted their price targets for Adobe, with Royal Bank of Canada maintaining an "outperform" rating at $480, while Citigroup has reduced its target to $450 and downgraded its rating to "neutral".
• Adobe's latest earnings report revealed $5.06 earnings per share, surpassing the consensus estimate of $4.97, alongside a revenue of $5.87 billion compared to estimates of $5.80 billion.

Douglass Winthrop Advisors LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 60.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,007 shares of the software company's stock after selling 1,510 shares during the period. Douglass Winthrop Advisors LLC's holdings in Adobe were worth $386,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after buying an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Adobe by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after buying an additional 821,293 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Adobe by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock worth $2,375,345,000 after buying an additional 600,146 shares in the last quarter. Northern Trust Corp grew its position in shares of Adobe by 14.5% during the fourth quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock worth $2,363,125,000 after buying an additional 672,919 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of ADBE traded down $4.05 during midday trading on Thursday, hitting $352.30. 1,126,976 shares of the stock traded hands, compared to its average volume of 3,741,915. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. The firm has a market capitalization of $149.44 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $364.81 and its two-hundred day moving average price is $388.37.

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 during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $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 research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased 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. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a report on Monday, June 23rd. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price objective on shares of Adobe 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 objective for the company. in a report on Monday, August 11th. Finally, Oppenheimer decreased their price objective on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $467.58.

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.