Prime Capital Investment Advisors LLC Sells 12,721 Shares of Adobe Inc. $ADBE

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Adobe Inc. by 31.8%, selling 12,721 shares and now holds 27,343 shares valued at approximately $10.58 million.
• Other institutional investors, including Assenagon Asset Management and Goldman Sachs, have increased their positions in Adobe, with notable increases of 308.1% and 68.3% respectively.
• Adobe reported a quarterly revenue of $5.99 billion and earnings per share of $5.31, exceeding analyst expectations, as the company projects FY 2025 earnings between $20.800 and $20.850.

Prime Capital Investment Advisors LLC cut its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,343 shares of the software company's stock after selling 12,721 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Adobe were worth $10,578,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company's stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC purchased a new position in shares of Adobe in the 1st quarter valued at approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company's stock worth $498,000 after purchasing an additional 1,216,351 shares in the last quarter. Finally, Amundi grew its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler cut their target price on Adobe from $500.00 to $470.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Bank of America lifted their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 9th. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and reduced their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $500.00 price target 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 issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $433.41.

Adobe Stock Down 1.3%

Shares of NASDAQ ADBE opened at $346.74 on Monday. The stock has a market cap of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a 50-day moving average of $353.22 and a 200 day moving average of $372.14.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results 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 period in the previous year, the firm posted $4.65 EPS. The business's revenue for the quarter 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, sell-side analysts predict that Adobe Inc. will post 16.65 EPS 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.

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