Adobe Inc. $ADBE Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 9.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 356,259 shares of the software company’s stock after selling 36,014 shares during the quarter. King Luther Capital Management Corp’s holdings in Adobe were worth $137,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADBE. Searle & CO. purchased a new stake in shares of Adobe during the second quarter valued at approximately $319,000. Roberts Glore & Co. Inc. IL grew its holdings in Adobe by 22.2% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 2,440 shares of the software company’s stock valued at $944,000 after purchasing an additional 443 shares in the last quarter. PFG Advisors increased its stake in Adobe by 23.0% during the 2nd quarter. PFG Advisors now owns 6,104 shares of the software company’s stock worth $2,362,000 after buying an additional 1,140 shares during the period. Midwest Trust Co acquired a new position in Adobe in the 2nd quarter worth $24,333,000. Finally, Acadian Asset Management LLC boosted its position in Adobe by 218.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,073,899 shares of the software company’s stock valued at $415,434,000 after buying an additional 736,682 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ADBE. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Royal Bank Of Canada decreased their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Piper Sandler decreased their target price on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $326.95 on Friday. The firm has a market cap of $136.86 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company’s fifty day moving average is $348.22 and its 200-day moving average is $368.22. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

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.