Adobe (NASDAQ:ADBE) CAO Jillian Forusz Sells 149 Shares

Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Adobe Stock Down 0.6%

ADBE opened at $335.35 on Wednesday. The firm has a 50-day simple moving average of $349.76 and a two-hundred day simple moving average of $368.72. Adobe Inc. has a 52 week low of $327.50 and a 52 week high of $557.90. The company has a market capitalization of $140.38 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. 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 data on Thursday, September 11th. The software company reported $5.31 EPS 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 during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Norges Bank purchased a new stake in Adobe in the 2nd quarter worth about $2,029,950,000. Assenagon Asset Management S.A. raised its position in Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. raised its position in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new stake in Adobe in the 1st quarter worth about $607,443,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. UBS Group lowered their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Finally, Redburn Partners set a $280.00 price target on shares of Adobe in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $433.41.

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.