Linden Thomas Advisory Services LLC Has $2.93 Million Position in Adobe Inc. $ADBE

Key Points

• Linden Thomas Advisory Services LLC reduced its stake in Adobe Inc. by 33.4%, holding 7,583 shares worth approximately $2.93 million.
• Adobe's recent quarterly earnings showed a profit of $5.31 per share, surpassing estimates and indicating a 10.7% year-over-year revenue growth with $5.99 billion in revenue.
• Analysts have lowered price targets for Adobe’s stock, with Citigroup and Morgan Stanley setting new targets of $400.00 and $450.00, while the average price target is now $433.41.

Linden Thomas Advisory Services LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 33.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,583 shares of the software company's stock after selling 3,808 shares during the quarter. Linden Thomas Advisory Services LLC's holdings in Adobe were worth $2,934,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ADBE. Vanguard Group Inc. boosted its holdings in Adobe by 0.4% during the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock worth $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Adobe by 14.4% in the first 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 acquiring an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Adobe by 2.4% during the first 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 worth $2,097,289,000 after acquiring an additional 126,688 shares in the last quarter. Amundi grew its stake in Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock valued at $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 0.2%

Shares of NASDAQ ADBE traded down $0.60 during midday trading on Friday, hitting $353.52. 2,013,637 shares of the stock traded hands, compared to its average volume of 3,895,059. The company has a market cap of $147.98 billion, a PE ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a one year low of $327.50 and a one year high of $557.90. The business has a 50 day moving average price of $351.71 and a two-hundred day moving average price of $368.72.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The business'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, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent analyst reports. Citigroup lowered their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Morgan Stanley lowered shares of Adobe from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Adobe in a research note on Friday. JMP Securities restated a "market perform" rating on shares of Adobe in a report on Friday, September 12th. Finally, BMO Capital Markets lowered their target price on Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average 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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