State of Wyoming Trims Holdings in Adobe Inc. $ADBE

Key Points

• The State of Wyoming reduced its stake in Adobe Inc. by 46.9%, selling 1,488 shares and leaving it with 1,686 shares valued at $647,000.
• Multiple institutional investors, including RB Capital Management and Orin Green Financial, have increased their holdings in Adobe recently, with institutional ownership now at 81.79%.
• Adobe reported a 10.6% year-over-year revenue increase for the last quarter, beating earnings estimates by posting $5.06 EPS against the expected $4.97.

State of Wyoming reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 46.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,686 shares of the software company's stock after selling 1,488 shares during the quarter. State of Wyoming's holdings in Adobe were worth $647,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. grew its stake in shares of Adobe by 1,354.0% during the 1st quarter. Itau Unibanco Holding S.A. now owns 6,194 shares of the software company's stock valued at $2,376,000 after acquiring an additional 5,768 shares during the period. Joho Capital LLC boosted its stake in Adobe by 15.5% in the 1st quarter. Joho Capital LLC now owns 219,400 shares of the software company's stock worth $84,146,000 after purchasing an additional 29,500 shares during the period. Landscape Capital Management L.L.C. boosted its stake in Adobe by 14.4% in the 1st quarter. Landscape Capital Management L.L.C. now owns 8,689 shares of the software company's stock worth $3,332,000 after purchasing an additional 1,094 shares during the period. MYDA Advisors LLC boosted its stake in Adobe by 390.9% in the 1st quarter. MYDA Advisors LLC now owns 5,400 shares of the software company's stock worth $2,071,000 after purchasing an additional 4,300 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in Adobe by 1.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 348,303 shares of the software company's stock worth $133,585,000 after purchasing an additional 5,971 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent analyst reports. BMO Capital Markets restated an "outperform" rating and issued a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Citigroup lowered their target price on Adobe from $465.00 to $450.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. DA Davidson reiterated a "buy" rating and set a $500.00 target price on shares of Adobe in a research report on Friday, June 20th. Mizuho lowered their target price on Adobe from $575.00 to $530.00 and set an "outperform" rating for the company in a research report on Friday, June 13th. Finally, Phillip Securities upgraded Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $466.42.

Adobe Trading Up 0.8%

ADBE traded up $2.74 during trading on Friday, reaching $356.70. The company had a trading volume of 2,637,158 shares, compared to its average volume of 3,582,848. The stock has a market cap of $151.31 billion, a P/E ratio of 22.82, a PEG ratio of 1.69 and a beta of 1.48. The business has a 50 day simple moving average of $363.93 and a 200-day simple moving average of $385.96. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $587.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54.

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

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.