Adobe Inc. $ADBE Shares Sold by AGF Management Ltd.

AGF Management Ltd. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 62.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 899 shares of the software company’s stock after selling 1,526 shares during the quarter. AGF Management Ltd.’s holdings in Adobe were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Summit Investment Advisors Inc. boosted its position in Adobe by 0.9% in the first quarter. Summit Investment Advisors Inc. now owns 24,824 shares of the software company’s stock valued at $9,521,000 after buying an additional 225 shares during the last quarter. One Wealth Capital Management LLC raised its position in Adobe by 16.2% during the 2nd quarter. One Wealth Capital Management LLC now owns 2,906 shares of the software company’s stock worth $1,124,000 after buying an additional 406 shares during the last quarter. AE Wealth Management LLC lifted its stake in Adobe by 14.0% during the 2nd quarter. AE Wealth Management LLC now owns 31,593 shares of the software company’s stock valued at $12,223,000 after acquiring an additional 3,883 shares during the period. Paradigm Asset Management Co. LLC lifted its stake in Adobe by 57.1% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the software company’s stock valued at $213,000 after acquiring an additional 200 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Adobe in the 2nd quarter valued at $761,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays set a $465.00 target price on shares of Adobe and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Evercore ISI reduced their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, UBS Group dropped their target price on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Transactions 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $333.22 on Wednesday. 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 stock has a market capitalization of $139.49 billion, a PE ratio of 20.76, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a fifty-two week low of $323.03 and a fifty-two week high of $557.90. The company has a fifty day moving average of $347.41 and a two-hundred day moving average of $367.86.

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 the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. 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, research analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.