Lazard Freres Gestion S.A.S. Sells 32,020 Shares of Adobe Inc. $ADBE

Lazard Freres Gestion S.A.S. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 25.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,147 shares of the software company’s stock after selling 32,020 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Adobe were worth $35,649,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADBE. Assenagon Asset Management S.A. boosted its stake 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 worth $1,202,979,000 after buying an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Nuveen LLC acquired a new position in shares of Adobe during the 1st quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Adobe by 1,482.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi boosted its stake in shares of 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 buying an additional 961,895 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $354.12 on Friday. The firm has a market cap of $148.23 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. The firm’s fifty day moving average is $351.74 and its 200-day moving average is $368.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business 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 business earned $4.65 earnings per share. Adobe’s revenue for the quarter 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. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ADBE shares. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. TD Cowen cut their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Royal Bank Of Canada cut their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $433.41.

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.