Longview Partners Guernsey LTD Sells 67,201 Shares of Adobe Inc. $ADBE

Key Points

• Longview Partners Guernsey LTD reduced its stake in Adobe Inc. by 5.9%, selling 67,201 shares, which leaves them with 1,074,485 shares worth $412 million as of the latest report.
• Despite the reduction by Longview Partners, institutional investors continue to show interest, with several firms like PFG Advisors and Krane Funds Advisors increasing their stakes in Adobe during the same quarter.
• Analyst ratings show a generally positive outlook for Adobe, with a consensus rating of "Moderate Buy" and a price target averaging around $467.58.

Longview Partners Guernsey LTD reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,074,485 shares of the software company's stock after selling 67,201 shares during the period. Adobe makes up 3.3% of Longview Partners Guernsey LTD's portfolio, making the stock its 21st biggest holding. Longview Partners Guernsey LTD owned about 0.25% of Adobe worth $412,097,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADBE. GAMMA Investing LLC raised its position in Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock valued at $1,147,049,000 after purchasing an additional 2,984,391 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% in the first 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 during the last quarter. Nuveen LLC purchased a new position in shares of Adobe in the first quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock valued at $498,000 after purchasing an additional 1,216,351 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after acquiring an additional 830,300 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. UBS Group cut their price objective on Adobe from $430.00 to $400.00 and set a "neutral" rating on the stock in a research report on Friday. Redburn Atlantic lowered shares of Adobe from a "hold" rating to a "strong sell" rating and decreased their price objective for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Robert W. Baird raised their price target on shares of Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a report on Monday, June 16th. DA Davidson reissued a "buy" rating and issued a $500.00 target price on shares of Adobe in a report on Friday, June 20th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $470.00 target price (up from $430.00) on shares of Adobe in a report on Friday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $466.42.

Adobe Trading Up 0.8%

NASDAQ:ADBE traded up $2.74 during midday trading on Friday, hitting $356.70. 2,630,352 shares of the company traded hands, compared to its average volume of 3,747,045. The firm's fifty day moving average is $364.33 and its 200-day moving average is $387.70. The firm has a market capitalization of $151.31 billion, a P/E ratio of 22.82, a P/E/G ratio of 1.69 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the firm posted $4.48 EPS. The firm's revenue was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.