Adobe Inc. $ADBE Shares Acquired by First Trust Advisors LP

First Trust Advisors LP boosted its position in Adobe Inc. (NASDAQ:ADBE) by 32.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620,376 shares of the software company’s stock after buying an additional 152,776 shares during the quarter. First Trust Advisors LP owned 0.15% of Adobe worth $240,011,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Adobe in the first quarter worth about $25,000. LSV Asset Management increased its holdings in Adobe by 350.0% during the 2nd 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 acquired a new position in shares of Adobe in the 1st quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in shares of Adobe in the 2nd quarter valued at approximately $31,000. Finally, Horizon Financial Services LLC grew its holdings in Adobe by 4,000.0% during the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADBE shares. Mizuho cut their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Royal Bank Of Canada reduced their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Citigroup dropped their price target on Adobe from $400.00 to $366.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $425.85.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’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 sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Adobe Stock Performance

Shares of ADBE opened at $328.73 on Friday. The firm has a fifty day moving average of $336.77 and a 200-day moving average of $360.66. The company has a market cap of $137.61 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last issued 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS and its Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.