Lmcg Investments LLC Sells 750 Shares of Adobe Inc. $ADBE

Lmcg Investments LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,556 shares of the software company’s stock after selling 750 shares during the period. Lmcg Investments LLC’s holdings in Adobe were worth $6,018,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after purchasing an additional 171,547 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the last quarter. Amundi increased its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Royal Bank Of Canada decreased their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Bank of America boosted their price objective on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Wells Fargo & Company restated an “overweight” rating and set a $470.00 price objective (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 2.9%

NASDAQ ADBE opened at $337.51 on Friday. The business’s 50-day moving average price is $351.67 and its two-hundred day moving average price is $370.78. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90. The firm has a market capitalization of $141.28 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.56 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 (NASDAQ:ADBE) last released 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.