Lecap Asset Management Ltd. Sells 1,799 Shares of Adobe Inc. $ADBE

Key Points

• Lecap Asset Management Ltd. reduced its stake in Adobe Inc. by 34.4% in the 2nd quarter, selling 1,799 shares and leaving it with 3,433 shares valued at $1,328,000.
• Adobe reported earnings of $5.31 per share, surpassing analysts' expectations of $5.18, with revenues of $5.99 billion for the quarter, a 10.7% increase year-over-year.
• Analysts have adjusted Adobe's target prices, with Royal Bank of Canada lowering its target from $480.00 to $430.00, while multiple firms have issued various ratings including "outperform" and "hold."

Lecap Asset Management Ltd. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,433 shares of the software company's stock after selling 1,799 shares during the period. Lecap Asset Management Ltd.'s holdings in Adobe were worth $1,328,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its holdings in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Adobe by 67.0% in the first quarter. Merit Financial Group LLC now owns 16,302 shares of the software company's stock valued at $6,252,000 after acquiring an additional 6,539 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Adobe by 8.2% during the 1st quarter. ST Germain D J Co. Inc. now owns 4,245 shares of the software company's stock valued at $1,628,000 after buying an additional 323 shares in the last quarter. HBW Advisory Services LLC boosted its holdings in shares of Adobe by 19.2% during the 1st quarter. HBW Advisory Services LLC now owns 1,097 shares of the software company's stock valued at $421,000 after buying an additional 177 shares in the last quarter. Finally, RFG Advisory LLC boosted its holdings in shares of Adobe by 72.9% during the 1st quarter. RFG Advisory LLC now owns 2,702 shares of the software company's stock valued at $1,036,000 after buying an additional 1,139 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $343.72 on Thursday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The business has a 50-day simple moving average of $354.11 and a two-hundred day simple moving average of $373.01. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $143.88 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49.

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

Analysts Set New Price Targets

A number of analysts have recently commented on ADBE shares. Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Citigroup dropped their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Morgan Stanley cut shares of Adobe from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Finally, Mizuho cut shares of Adobe from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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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