Northwestern Mutual Wealth Management Co. Sells 67,735 Shares of Adobe Inc. $ADBE

Northwestern Mutual Wealth Management Co. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 49.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,516 shares of the software company’s stock after selling 67,735 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Adobe were worth $27,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Schmidt P J Investment Management Inc. increased its stake in Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after acquiring an additional 25 shares during the period. Ted Buchan & Co lifted its position in shares of Adobe by 1.9% during the 1st 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 period. VanderPol Investments L.L.C. grew its holdings in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares in the last quarter. Rise Advisors LLC increased its position in shares of Adobe by 7.0% in the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock worth $157,000 after purchasing an additional 27 shares during the period. Finally, FSM Wealth Advisors LLC raised its stake in Adobe by 1.1% in the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’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 value of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Up 0.9%

Shares of NASDAQ:ADBE opened at $320.25 on Friday. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $557.90. The company has a market capitalization of $134.05 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day moving average of $339.41 and a 200-day moving average of $362.63.

Adobe (NASDAQ:ADBE) last released 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 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%.Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Thursday, November 20th. Piper Sandler cut their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research report on Monday, August 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $428.96.

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.