Eagle Global Advisors LLC Decreases Stock Holdings in Adobe Inc. $ADBE

Key Points

• Eagle Global Advisors LLC significantly decreased its holdings in Adobe Inc. by 93.3%, owning 1,066 shares after selling 14,938 shares in the second quarter, with holdings valued at $412,000.
• Other institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., increased their positions, indicating a mixed sentiment among institutional stakeholders.
• Adobe reported strong quarterly earnings, with $5.31 earnings per share (EPS), exceeding estimates, and revenue increased by 10.7% year-over-year.

Eagle Global Advisors LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 93.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,066 shares of the software company's stock after selling 14,938 shares during the quarter. Eagle Global Advisors LLC's holdings in Adobe were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased 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 valued at $15,779,895,000 after acquiring an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $2,504,685,000 after acquiring an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Adobe by 2.4% during the first 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 valued at $2,097,289,000 after acquiring an additional 126,688 shares during the last quarter. Amundi increased its position in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after buying an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Adobe by 68.3% in 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 during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

NASDAQ:ADBE opened at $360.37 on Friday. The firm has a market capitalization of $150.85 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.62 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a fifty day moving average of $355.25 and a 200 day moving average of $373.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ADBE. Melius downgraded Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research report on Tuesday, September 9th. TD Cowen decreased their target price on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. UBS Group decreased their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research report on Friday, September 12th. Finally, Stifel Nicolaus decreased their target price on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a research report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $433.41.

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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