Blueshift Asset Management LLC Acquires 3,589 Shares of Adobe Inc. $ADBE

Blueshift Asset Management LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 677.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,119 shares of the software company’s stock after acquiring an additional 3,589 shares during the period. Blueshift Asset Management LLC’s holdings in Adobe were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter worth $25,000. LSV Asset Management increased its holdings in shares of Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Adobe during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC purchased a new stake in Adobe during the second quarter valued at $31,000. Finally, Horizon Financial Services LLC raised its position in shares of Adobe by 4,000.0% during the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe 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 in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ADBE shares. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Cowen restated a “hold” rating on shares of Adobe in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a research report on Wednesday, October 29th. Finally, Mizuho lowered their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $428.96.

Adobe Stock Performance

Shares of ADBE stock opened at $322.85 on Tuesday. The business’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. The company has a market capitalization of $135.15 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.51 and a beta of 1.47. 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 (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company’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. Analysts expect 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.