Louisiana State Employees Retirement System Sells 1,500 Shares of Adobe Inc. $ADBE

Louisiana State Employees Retirement System decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,700 shares of the software company's stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System's holdings in Adobe were worth $20,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Sax Wealth Advisors LLC bought a new position in Adobe in the second quarter worth approximately $217,000. Shell Asset Management Co. boosted its holdings in Adobe by 93.5% in the second quarter. Shell Asset Management Co. now owns 23,752 shares of the software company's stock worth $9,189,000 after acquiring an additional 11,474 shares in the last quarter. Slow Capital Inc. boosted its holdings in Adobe by 3.0% in the second quarter. Slow Capital Inc. now owns 7,584 shares of the software company's stock worth $2,934,000 after acquiring an additional 223 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Adobe by 8.5% in the second quarter. KLP Kapitalforvaltning AS now owns 201,763 shares of the software company's stock worth $78,058,000 after acquiring an additional 15,800 shares in the last quarter. Finally, Roberts Wealth Advisors LLC boosted its holdings in Adobe by 9.3% in the second quarter. Roberts Wealth Advisors LLC now owns 8,521 shares of the software company's stock worth $3,297,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

Shares of ADBE opened at $348.31 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $145.80 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.57 and a beta of 1.49. The stock has a 50 day moving average of $352.39 and a 200 day moving average of $371.72. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $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. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADBE. TD Cowen cut their price target on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. UBS Group cut their price target on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a report on Friday, September 12th. Royal Bank Of Canada cut their price target on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. Melius lowered Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price on the stock. in a report on Monday, August 11th. Finally, DA Davidson restated a "buy" rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $433.41.

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.

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