Adobe (NASDAQ:ADBE) Trading Up 1.2% – Here’s What Happened

by · The Markets Daily

Adobe Inc. (NASDAQ:ADBE – Get Free Report) shares were up 1.2% on Wednesday . The stock traded as high as $326.99 and last traded at $326.78. Approximately 2,989,588 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,910,897 shares. The stock had previously closed at $322.81.

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. Royal Bank Of Canada cut their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Evercore ISI reduced their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research note on Thursday, November 20th. Finally, Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $425.85.

Check Out Our Latest Research Report on ADBE

Adobe Trading Up 5.3%

The stock has a market capitalization of $144.94 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.21 and a beta of 1.54. The stock’s 50 day moving average price is $336.48 and its 200-day moving average price is $360.15. 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 – Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Adobe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of Adobe by 1.9% in the 1st quarter. Wealthspire Advisors LLC now owns 3,879 shares of the software company’s stock valued at $1,488,000 after purchasing an additional 74 shares during the period. WealthShield Partners LLC acquired a new position in shares of Adobe in the 1st quarter valued at $212,000. Nicholas Hoffman & Company LLC. boosted its holdings in Adobe by 27.8% during the first quarter. Nicholas Hoffman & Company LLC. now owns 1,649 shares of the software company’s stock worth $632,000 after buying an additional 359 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Adobe by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,898,297 shares of the software company’s stock valued at $1,111,584,000 after buying an additional 89,388 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

About Adobe

(Get Free Report)

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.

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