Adobe Inc. $ADBE Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 64,068 shares of the software company’s stock after selling 601 shares during the quarter. New York Life Investment Management LLC’s holdings in Adobe were worth $24,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Advisors raised its stake in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares in the last quarter. Krane Funds Advisors LLC raised its stake in Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after buying an additional 730 shares in the last quarter. Mcdaniel Terry & Co. raised its stake in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after buying an additional 1,093 shares in the last quarter. Financial Counselors Inc. raised its stake in Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after buying an additional 5,298 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC bought a new position in shares of Adobe during the second quarter valued at approximately $328,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $357.80 on Tuesday. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. The firm has a market capitalization of $149.78 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. The business has a 50 day simple moving average of $351.72 and a 200 day simple moving average of $368.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $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. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ADBE shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. UBS Group lowered their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. BMO Capital Markets lowered their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price for the company. in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.