Adobe Inc. $ADBE Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 95.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the software company’s stock after selling 40,500 shares during the period. Quinn Opportunity Partners LLC’s holdings in Adobe were worth $774,000 at the end of the most recent quarter.

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

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 1.1%

Shares of NASDAQ:ADBE opened at $337.05 on Thursday. The stock has a market cap of $141.09 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The firm’s 50 day moving average price is $347.18 and its 200 day moving average price is $367.65. Adobe Inc. has a fifty-two week low of $323.03 and a fifty-two week high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

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 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the company posted $4.65 earnings per share. The business’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 research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays set a $465.00 price target on Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.41.

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.