Van Hulzen Asset Management LLC Decreases Stock Position in Adobe Inc. $ADBE

Van Hulzen Asset Management LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,828 shares of the software company’s stock after selling 607 shares during the period. Van Hulzen Asset Management LLC’s holdings in Adobe were worth $5,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ADBE. MBM Wealth Consultants LLC boosted its stake in Adobe by 28.4% during the 2nd quarter. MBM Wealth Consultants LLC now owns 3,578 shares of the software company’s stock worth $1,384,000 after purchasing an additional 791 shares during the last quarter. Solidarity Wealth LLC raised its position in shares of Adobe by 2.2% in the second quarter. Solidarity Wealth LLC now owns 17,109 shares of the software company’s stock valued at $6,619,000 after buying an additional 364 shares during the last quarter. Claret Asset Management Corp lifted its stake in shares of Adobe by 31.5% in the second quarter. Claret Asset Management Corp now owns 713 shares of the software company’s stock worth $276,000 after buying an additional 171 shares in the last quarter. Edgestream Partners L.P. boosted its position in Adobe by 34.2% during the second quarter. Edgestream Partners L.P. now owns 4,291 shares of the software company’s stock worth $1,660,000 after acquiring an additional 1,093 shares during the last quarter. Finally, Shelton Capital Management grew its stake in Adobe by 5.3% during the 2nd quarter. Shelton Capital Management now owns 65,648 shares of the software company’s stock valued at $25,398,000 after acquiring an additional 3,308 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The sale 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 insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADBE shares. Wells Fargo & Company decreased their target price on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Barclays set a $465.00 price target on Adobe and gave the company an “overweight” rating in a report on Wednesday, October 29th. Redburn Partners set a $280.00 price objective on Adobe in a research note on Monday, September 1st. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Mizuho reduced their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $428.96.

Adobe Trading Up 0.8%

NASDAQ ADBE opened at $322.85 on Tuesday. 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 $135.15 billion, a P/E ratio of 20.12, a PEG ratio of 1.51 and a beta of 1.47. The firm’s 50-day moving average is $338.58 and its two-hundred day moving average is $361.79. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business earned $4.65 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.