Jupiter Asset Management Ltd. Sells 75,617 Shares of Adobe Inc. $ADBE

Jupiter Asset Management Ltd. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 28.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 187,243 shares of the software company’s stock after selling 75,617 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Adobe were worth $72,441,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADBE. Schmidt P J Investment Management Inc. increased its position in shares of Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the period. GS Investments Inc. boosted its position in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after acquiring an additional 26 shares during the last quarter. Ted Buchan & Co boosted its position in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after acquiring an additional 26 shares during the last quarter. Lifeworks Advisors LLC grew its holdings in Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. raised its position in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADBE shares. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Citigroup dropped their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Royal Bank Of Canada cut their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Up 1.3%

NASDAQ ADBE opened at $333.22 on Wednesday. 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 Inc. has a 52 week low of $323.03 and a 52 week high of $557.90. The business has a 50 day moving average price of $347.41 and a 200-day moving average price of $367.86. The company has a market cap of $139.49 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company 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%.Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business 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.

Adobe 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.