Lecap Asset Management Ltd. Sells 1,799 Shares of Adobe Inc. $ADBE

Lecap Asset Management Ltd. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 34.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,433 shares of the software company’s stock after selling 1,799 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Adobe were worth $1,328,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. 1248 Management LLC bought a new stake in shares of Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the 1st quarter valued at approximately $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter valued at approximately $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter valued at approximately $34,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and cut their price objective for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Oppenheimer cut their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Finally, Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 2.6%

Shares of ADBE opened at $343.72 on Thursday. The stock has a market capitalization of $143.88 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The business’s 50 day simple moving average is $354.11 and its 200-day simple moving average is $373.01. 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 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 for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. 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. As a group, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.