Stoneridge Investment Partners LLC Trims Stake in Adobe Inc. $ADBE

Key Points

• Stoneridge Investment Partners LLC reduced its stake in Adobe Inc. by 36.7%, selling 3,137 shares and now holding 5,416 shares valued at approximately $2,077,000.
• A number of institutional investors increased their positions in Adobe, including Fosun International Ltd, which raised its stake by 28.3% during the first quarter.
• Adobe reported a $5.06 EPS for the quarter, exceeding expectations, with a year-over-year revenue increase of 10.6%.

Stoneridge Investment Partners LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,416 shares of the software company's stock after selling 3,137 shares during the quarter. Adobe accounts for 1.8% of Stoneridge Investment Partners LLC's holdings, making the stock its 16th largest holding. Stoneridge Investment Partners LLC's holdings in Adobe were worth $2,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fosun International Ltd raised its position in Adobe by 28.3% in the first quarter. Fosun International Ltd now owns 5,875 shares of the software company's stock valued at $2,253,000 after purchasing an additional 1,296 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of Adobe by 0.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,319 shares of the software company's stock valued at $3,191,000 after buying an additional 56 shares in the last quarter. GM Advisory Group LLC grew its stake in shares of Adobe by 40.4% in the first quarter. GM Advisory Group LLC now owns 1,120 shares of the software company's stock valued at $430,000 after buying an additional 322 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Adobe by 12.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,362 shares of the software company's stock valued at $523,000 after buying an additional 154 shares in the last quarter. Finally, Geo Capital Gestora de Recursos Ltd grew its stake in shares of Adobe by 56.8% in the first quarter. Geo Capital Gestora de Recursos Ltd now owns 7,615 shares of the software company's stock valued at $2,921,000 after buying an additional 2,758 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $450.00 price objective on shares of Adobe in a research note on Friday, June 13th. Bank of America lifted their price objective on Adobe from $424.00 to $475.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Melius cut Adobe from a "hold" rating to a "sell" rating and set a $310.00 price objective for the company. in a research note on Monday, August 11th. Redburn Atlantic cut Adobe from a "hold" rating to a "strong sell" rating and dropped their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Rothschild & Co Redburn cut Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price for the company. in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $467.58.

Adobe Trading Up 1.1%

ADBE opened at $361.03 on Wednesday. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $587.75. The stock has a market capitalization of $153.15 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.69 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99. The business has a fifty day moving average price of $369.56 and a 200 day moving average price of $391.35.

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

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.