Oak Associates Ltd. OH Acquires New Position in Adobe Inc. $ADBE

Oak Associates Ltd. OH bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,242 shares of the software company’s stock, valued at approximately $16,343,000. Adobe accounts for 1.1% of Oak Associates Ltd. OH’s portfolio, making the stock its 27th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 1248 Management LLC bought a new position in shares of Adobe in the 1st quarter worth $25,000. LSV Asset Management boosted its holdings in Adobe by 350.0% during the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after buying an additional 56 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the 1st quarter worth about $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe in the 1st quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in Adobe during the 2nd quarter worth approximately $31,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADBE shares. TD Cowen cut their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Barclays set a $465.00 price objective on shares of Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research report on Thursday. Citigroup lowered their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $428.96.

Insider Buying and Selling at Adobe

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

Adobe Stock Down 1.7%

Shares of ADBE stock opened at $318.73 on Tuesday. The firm’s fifty day moving average price is $342.88 and its two-hundred day moving average price is $364.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90. The firm has a market capitalization of $133.42 billion, a P/E ratio of 19.86, a PEG ratio of 1.51 and a beta of 1.47.

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. The company had revenue of $5.99 billion during 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 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 EPS. 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 predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.