Westpac Banking Corp Sells 425 Shares of Adobe Inc. $ADBE

Westpac Banking Corp lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,083 shares of the software company’s stock after selling 425 shares during the period. Westpac Banking Corp’s holdings in Adobe were worth $7,383,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ADBE. 1248 Management LLC bought a new position in shares of Adobe in the first quarter valued at $25,000. Flaharty Asset Management LLC acquired a new stake in Adobe in the first quarter valued at $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the 1st quarter valued at about $30,000. Nexus Investment Management ULC acquired a new position in shares of Adobe during the 2nd quarter worth about $31,000. Finally, Barnes Dennig Private Wealth Management LLC increased its stake in shares of Adobe by 44.9% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after purchasing an additional 31 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other 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 approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Adobe Stock Down 0.7%

ADBE stock opened at $331.11 on Friday. Adobe Inc. has a fifty-two week low of $323.03 and a fifty-two week high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $138.60 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.51 and a beta of 1.47. The business’s fifty day moving average price is $346.61 and its two-hundred day moving average price is $367.12.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. Adobe’s quarterly 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. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. BMO Capital Markets reiterated an “outperform” rating and set a $405.00 target price on shares of Adobe in a research note on Wednesday, October 29th. DA Davidson reissued a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Evercore ISI cut their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.