Jones Financial Companies Lllp Cuts Stake in Adobe Inc. $ADBE

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in Adobe Inc. by 65.5%, selling 30,835 shares and lowering its holdings to 16,263 shares valued at approximately $6.24 million.
• Analyst ratings for Adobe varied, with notable changes including Melius downgrading the stock from "hold" to "sell" and Bank of America raising its price target from $424 to $475, reflecting mixed market sentiment.
• Adobe reported a quarterly earnings beat with $5.06 EPS versus expectations of $4.97, signaling strong performance with a 10.6% revenue increase year-over-year.

Jones Financial Companies Lllp trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 65.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,263 shares of the software company's stock after selling 30,835 shares during the quarter. Jones Financial Companies Lllp's holdings in Adobe were worth $6,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Adobe by 224.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 6,525 shares of the software company's stock worth $2,503,000 after acquiring an additional 4,515 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $245,000. UniSuper Management Pty Ltd lifted its holdings in shares of Adobe by 4.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 99,319 shares of the software company's stock worth $38,092,000 after acquiring an additional 4,153 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $1,050,000. Finally, Select Equity Group L.P. lifted its holdings in shares of Adobe by 118.8% in the 1st quarter. Select Equity Group L.P. now owns 514,343 shares of the software company's stock worth $197,266,000 after acquiring an additional 279,275 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 0.3%

Shares of Adobe stock traded down $1.07 during trading on Monday, hitting $348.29. The company's stock had a trading volume of 3,187,625 shares, compared to its average volume of 3,877,849. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02. The company has a fifty day simple moving average of $357.32 and a two-hundred day simple moving average of $378.97. The company has a market capitalization of $147.75 billion, a PE ratio of 21.70, a P/E/G ratio of 1.65 and a beta of 1.48. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping 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 net margin of 30.01% and a return on equity of 57.54%. Adobe's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADBE shares. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. Mizuho lowered their price target on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, Evercore ISI lowered their price target on shares of Adobe from $475.00 to $450.00 and set an "outperform" rating for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $435.63.

Adobe Company 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.