KG&L Capital Management LLC Reduces Position in Adobe Inc. $ADBE

Key Points

• KG&L Capital Management LLC has reduced its stake in Adobe Inc. by 46.8% to 1,133 shares, valued at approximately $438,000.
• Several large investors have increased their positions in Adobe, with Goldman Sachs Group Inc. leading with a 68.3% boost in shares owned.
• Adobe's quarterly earnings report showed $5.31 EPS, surpassing estimates, and revenue growth of 10.7% compared to the previous year.

KG&L Capital Management LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 46.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,133 shares of the software company's stock after selling 996 shares during the period. KG&L Capital Management LLC's holdings in Adobe were worth $438,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its position in Adobe by 14.4% in the 1st 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 buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Adobe by 2.4% in the 1st 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 buying an additional 126,688 shares during the period. Amundi boosted its position in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 1.8%

Shares of Adobe stock opened at $360.37 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm has a market capitalization of $150.85 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.62 and a beta of 1.48. The firm's 50 day simple moving average is $355.25 and its two-hundred day simple moving average is $373.63.

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, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 EPS. Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Morgan Stanley cut shares of Adobe from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $450.00 in a research report on Wednesday. Stifel Nicolaus reduced their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Citigroup reduced their price target on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Wells Fargo & Company restated an "overweight" rating and issued a $470.00 price target (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Finally, JMP Securities restated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of "Hold" and an average price target of $433.41.

About Adobe

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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