Shelton Capital Management Purchases 3,308 Shares of Adobe Inc. $ADBE

Shelton Capital Management lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,648 shares of the software company’s stock after buying an additional 3,308 shares during the quarter. Shelton Capital Management’s holdings in Adobe were worth $25,398,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lathrop Investment Management Co. lifted its position in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares during the period. Mcdaniel Terry & Co. raised its position in shares of Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new position in shares of Adobe in the 2nd quarter worth $328,000. Koss Olinger Consulting LLC acquired a new stake in shares of Adobe during the first quarter worth $305,000. Finally, Bourgeon Capital Management LLC increased its holdings in Adobe by 41.0% in the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after purchasing an additional 7,176 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADBE shares. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. TD Cowen cut their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Evercore ISI dropped their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $428.96.

Adobe Trading Up 0.9%

ADBE opened at $320.25 on Monday. The firm’s fifty day simple moving average is $339.41 and its 200 day simple moving average is $362.37. The stock has a market capitalization of $134.05 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.51 and a beta of 1.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the business earned $4.65 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. 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 anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

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.