New York Life Investment Management LLC Lowers Stock Holdings in Adobe Inc. $ADBE

New York Life Investment Management LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,068 shares of the software company’s stock after selling 601 shares during the period. 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 have also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Adobe during the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Adobe during the first quarter valued at about $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe during the first quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe during the first quarter valued at about $30,000. Finally, Nexus Investment Management ULC purchased a new stake in Adobe during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.2%

NASDAQ:ADBE opened at $357.80 on Tuesday. 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 one year low of $327.50 and a one year high of $557.90. The business’s 50-day simple moving average is $351.72 and its 200 day simple moving average is $368.91. The stock has a market cap 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.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. 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, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of a number of research reports. Redburn Partners set a $280.00 price target on Adobe in a research report on Monday, September 1st. Rothschild & Co Redburn cut Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Morgan Stanley cut Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Company 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.