EFG Asset Management Americas Corp. Sells 3,361 Shares of Adobe Inc. $ADBE

EFG Asset Management Americas Corp. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,553 shares of the software company’s stock after selling 3,361 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Adobe were worth $4,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. PFG Advisors lifted its holdings in shares of 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 acquiring an additional 855 shares during the period. Lathrop Investment Management Co. increased its position in shares of Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after purchasing an additional 718 shares in the last quarter. Mcdaniel Terry & Co. lifted its holdings in Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC acquired a new position in Adobe in the second quarter valued at about $328,000. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Adobe during the first quarter worth approximately $305,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Down 2.0%

Shares of NASDAQ ADBE opened at $318.11 on Thursday. Adobe Inc. has a 1 year low of $315.17 and a 1 year high of $557.90. The firm’s 50-day moving average is $344.71 and its 200-day moving average is $365.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $133.16 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share 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 period in the prior year, the business posted $4.65 earnings per share. Adobe’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. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of Adobe 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 completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Citigroup dropped their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Redburn Partners set a $280.00 target price on Adobe in a report on Monday, September 1st. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a report on Tuesday, September 9th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.