Insider Selling: Adobe (NASDAQ:ADBE) CAO Sells $50,344.12 in Stock

Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction 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. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Adobe Stock Down 2.4%

Shares of Adobe stock opened at $327.35 on Friday. The company has a market capitalization of $137.03 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. 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 business has a 50-day moving average of $348.81 and a two-hundred day moving average of $368.20. Adobe Inc. has a 1 year low of $324.55 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 (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the firm earned $4.65 EPS. Adobe’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. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Hedge Funds Weigh In On Adobe

A number of hedge funds have recently modified their holdings of the business. PFG Advisors grew its position in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares during the period. Lathrop Investment Management Co. boosted its stake in Adobe by 2.8% during the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after acquiring an additional 718 shares in the last quarter. Mcdaniel Terry & Co. boosted its stake in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares in the last quarter. Financial Counselors Inc. grew its holdings in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Jackson Thornton Wealth Management LLC bought a new position in shares of Adobe during the second quarter valued at approximately $328,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the topic of several recent research reports. Citigroup dropped their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a research report on Monday, August 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Adobe 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.