LGT Fund Management Co Ltd. Has $2.68 Million Holdings in Adobe Inc. $ADBE

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Adobe Inc. by 22.5%, ending the quarter with shares valued at approximately $2.68 million.
• Adobe's recent quarterly earnings beat expectations, with an EPS of $5.31, surpassing the consensus estimate of $5.18.
• Analysts maintain a mixed outlook on Adobe, with targets ranging from $280 to $480 and a consensus rating of "Hold."

LGT Fund Management Co Ltd. lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,913 shares of the software company's stock after selling 2,008 shares during the period. LGT Fund Management Co Ltd.'s holdings in Adobe were worth $2,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Adobe during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe during the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. acquired a new stake in shares of Adobe during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a research report on Saturday, September 27th. Rothschild & Co Redburn lowered shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price target on the stock. in a research report on Wednesday, July 2nd. Wells Fargo & Company reiterated an "overweight" rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Royal Bank Of Canada reduced their price target on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, September 8th. Finally, Stifel Nicolaus reduced their price target on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Hold" and an average target price of $433.41.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $346.74 on Friday. The firm has a 50 day simple moving average of $353.22 and a 200 day simple moving average of $372.37. The company has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. 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 released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.