Adobe Inc. $ADBE Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC reduced its stake in Adobe Inc. by 6.3% in the first quarter, now holding 159,209 shares valued at approximately $61.06 million.
• The stock is primarily owned by institutional investors and hedge funds, which hold 81.79% of the shares.
• Adobe reported $5.06 earnings per share for its latest quarter, surpassing analysts' expectations, with revenues of $5.87 billion.

Guggenheim Capital LLC reduced its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 159,209 shares of the software company's stock after selling 10,794 shares during the quarter. Adobe comprises about 0.6% of Guggenheim Capital LLC's holdings, making the stock its 26th largest position. Guggenheim Capital LLC's holdings in Adobe were worth $61,061,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its holdings in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Adobe by 2.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock worth $12,882,000 after acquiring an additional 756 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Adobe in the fourth quarter worth $2,374,000. Bellwether Advisors LLC purchased a new position in Adobe in the fourth quarter worth $78,000. Finally, AdvisorShares Investments LLC purchased a new position in Adobe in the fourth quarter worth $7,070,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Adobe stock traded up $2.74 during trading hours on Friday, hitting $356.70. The stock had a trading volume of 2,637,158 shares, compared to its average volume of 3,666,279. 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 stock has a market capitalization of $151.31 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.69 and a beta of 1.51. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $587.75. The stock's fifty day moving average is $363.93 and its two-hundred day moving average is $386.47.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share 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 analyst estimates of $5.80 billion. Adobe had a return on equity of 53.68% and a net margin of 30.39%.Adobe's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Evercore ISI reiterated an "outperform" rating and issued a $475.00 price objective on shares of Adobe in a research report on Friday, June 13th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $480.00 price objective on shares of Adobe in a research report on Thursday, June 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a research report on Friday, June 13th. Finally, Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $466.42.

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.