Legal Advantage Investments Inc. Reduces Stock Position in Adobe Inc. $ADBE

Key Points

• Legal Advantage Investments Inc. has reduced its stake in Adobe Inc. by 8.0%, now owning 9,595 shares worth approximately $3.7 million. This makes Adobe the 23rd largest holding in their portfolio.
• Other institutional investors are increasing their positions in Adobe, with significant purchases made by Garde Capital Inc. and PFG Advisors, indicating ongoing interest in the company's stock.
• Adobe recently reported quarterly earnings of $5.31 EPS, surpassing estimates, and has set guidance for FY 2025 EPS between $20.800-$20.850, with a current average analyst rating of "Hold."

Legal Advantage Investments Inc. reduced its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,595 shares of the software company's stock after selling 838 shares during the period. Adobe makes up 1.7% of Legal Advantage Investments Inc.'s portfolio, making the stock its 23rd largest holding. Legal Advantage Investments Inc.'s holdings in Adobe were worth $3,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Garde Capital Inc. purchased a new position in shares of Adobe during the 1st quarter worth about $34,000. PFG Advisors boosted its stake in shares of Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock worth $1,904,000 after purchasing an additional 855 shares during the period. Krane Funds Advisors LLC boosted its stake in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock worth $533,000 after purchasing an additional 730 shares during the period. Financial Counselors Inc. boosted its stake in shares of Adobe by 9.2% during the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in shares of Adobe during the 1st quarter worth about $305,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 2.9%

Shares of ADBE opened at $337.51 on Friday. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The company has a 50-day moving average of $351.67 and a 200 day moving average of $370.59. The firm has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The company's quarterly revenue 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. On average, research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADBE shares. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Oppenheimer dropped their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Robert W. Baird lifted their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. TD Cowen decreased their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a report on Friday, September 12th. Finally, DA Davidson reiterated a "buy" rating and set a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of "Hold" and an average target price 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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