Groupe la Francaise Cuts Stock Position in Adobe Inc. $ADBE

Key Points

• Groupe la Francaise has reduced its stake in Adobe Inc. by 51.5%, holding $3.05 million in shares after selling 8,197 shares in the first quarter.
• Institutional investors now own 81.79% of Adobe's stock, with significant increases in holdings by firms such as GAMMA Investing LLC and Goldman Sachs Group Inc.
• Analysts have mixed ratings for Adobe, with a consensus rating of Moderate Buy and a target price of $467.58, alongside a recent downgrade from Wall Street Zen from "buy" to "hold."

Groupe la Francaise trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 51.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,729 shares of the software company's stock after selling 8,197 shares during the quarter. Groupe la Francaise's holdings in Adobe were worth $3,054,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ADBE. GAMMA Investing LLC boosted its stake in shares of Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. raised 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 acquiring an additional 1,856,544 shares during the last quarter. Nuveen LLC bought a new position in shares of Adobe during the first quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after acquiring an additional 1,216,351 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock worth $395,321,000 after acquiring an additional 830,300 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America raised their price objective on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Citigroup lowered their price objective on 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 raised their price objective on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday, June 9th. Mizuho lowered their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a report on Friday, June 13th. Finally, Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. 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 issued a Sell rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $467.58.

Adobe Stock Up 0.4%

Shares of NASDAQ ADBE traded up $1.44 during midday trading on Wednesday, hitting $356.35. 2,295,665 shares of the stock traded hands, compared to its average volume of 3,754,327. The company has a market cap of $151.16 billion, a PE ratio of 22.80, a P/E/G ratio of 1.72 and a beta of 1.51. Adobe Inc. has a one year low of $330.04 and a one year high of $587.75. The business has a 50 day moving average price of $365.25 and a two-hundred day moving average price of $388.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its 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. The company had revenue of $5.87 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.48 earnings per share. 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.

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.