Lyell Wealth Management LP Sells 6,313 Shares of Adobe Inc. $ADBE

Key Points

• Lyell Wealth Management LP reduced its stake in Adobe by 40%, selling 6,313 shares, leaving it with 9,466 shares valued at approximately $3.66 million.
• Adobe reported earnings of $5.31 per share, exceeding analysts' expectations, with quarterly revenue increasing by 10.7% year-over-year to $5.99 billion.
• Wall Street analysts have mixed ratings on Adobe, with target prices ranging from $375 to $500, while the stock holds an average rating of "Hold."

Lyell Wealth Management LP cut its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,466 shares of the software company's stock after selling 6,313 shares during the period. Lyell Wealth Management LP's holdings in Adobe were worth $3,662,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Garde Capital Inc. bought a new position in Adobe during the 1st quarter valued at $34,000. PFG Advisors lifted its stake in Adobe by 20.8% during the 1st quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after acquiring an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised 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. raised 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 bought a new stake in shares of Adobe during the 1st quarter worth $305,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Up 1.2%

Shares of Adobe stock opened at $333.26 on Monday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The stock's 50-day simple moving average is $350.99 and its 200 day simple moving average is $368.76. The stock has a market capitalization of $139.50 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.49 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 (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business posted $4.65 EPS. The firm'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. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. DA Davidson reiterated a "buy" rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research note on Saturday. UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating on the stock in a research note on Friday, September 12th. Finally, TD Cowen lowered their target price on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research note on Friday, September 12th. One research 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, 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

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.