Atlantic Union Bankshares Corp Purchases 14,951 Shares of Adobe Inc. $ADBE

Atlantic Union Bankshares Corp lifted its position in Adobe Inc. (NASDAQ:ADBE) by 69.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,631 shares of the software company’s stock after acquiring an additional 14,951 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Adobe were worth $14,172,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Adobe by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after acquiring an additional 171,547 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi increased its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. Goldman Sachs Group Inc. increased its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. Finally, Deutsche Bank AG increased its stake in Adobe by 6.8% in the 1st quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock worth $1,432,680,000 after buying an additional 238,542 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.1%

NASDAQ ADBE opened at $335.53 on Thursday. 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 market capitalization of $140.45 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company’s 50-day simple moving average is $349.35 and its two-hundred day simple moving average is $368.49. Adobe Inc. has a one year low of $327.50 and a one 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 (EPS) for the quarter, topping 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the firm earned $4.65 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ADBE shares. Citigroup reduced their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Piper Sandler reduced their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Finally, Evercore ISI reduced their price target on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe Company 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.