London & Capital Asset Management Ltd Sells 25,671 Shares of Adobe Inc. $ADBE

London & Capital Asset Management Ltd trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 54.4% in the second quarter, Holdings Channel reports. The firm owned 21,515 shares of the software company’s stock after selling 25,671 shares during the quarter. London & Capital Asset Management Ltd’s holdings in Adobe were worth $8,323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter valued at $25,000. LSV Asset Management lifted its stake in Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the last quarter. Flaharty Asset Management LLC bought a new position in Adobe during the first quarter worth about $29,000. Nexus Investment Management ULC acquired a new position in Adobe during the second quarter worth approximately $31,000. Finally, Horizon Financial Services LLC raised its stake in Adobe by 4,000.0% in the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock valued at $32,000 after buying an additional 80 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

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

Adobe Stock Performance

NASDAQ ADBE opened at $339.12 on Tuesday. The firm has a 50-day moving average price of $336.08 and a two-hundred day moving average price of $358.83. Adobe Inc. has a 12-month low of $311.58 and a 12-month high of $557.90. The company has a market capitalization of $141.96 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.27 and a beta of 1.54. 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 released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company 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%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler reduced their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Oppenheimer dropped their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Redburn Partners set a $280.00 target price on shares of Adobe in a report on Monday, September 1st. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Finally, Barclays restated an “overweight” rating and set a $415.00 price objective on shares of Adobe in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $424.74.

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.