Adobe Inc. $ADBE Shares Acquired by Profund Advisors LLC

Profund Advisors LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,735 shares of the software company’s stock after purchasing an additional 3,153 shares during the quarter. Adobe comprises about 0.5% of Profund Advisors LLC’s investment portfolio, making the stock its 28th largest position. Profund Advisors LLC’s holdings in Adobe were worth $14,986,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADBE. Schmidt P J Investment Management Inc. lifted its stake in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares during the last quarter. GS Investments Inc. raised its holdings in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the period. Ted Buchan & Co lifted its position in shares of Adobe by 1.9% in the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its position in shares of Adobe by 3.6% in the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. boosted its holdings in shares of Adobe by 5.2% in the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s 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 completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ADBE. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Piper Sandler dropped their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price target on shares of Adobe in a report on Wednesday, October 29th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 0.1%

ADBE opened at $326.95 on Friday. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. 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 cap of $136.86 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.51 and a beta of 1.47. The stock’s 50 day moving average price is $348.22 and its 200 day moving average price is $368.22.

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 analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous 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 predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.