Adobe Inc. $ADBE Shares Sold by State Street Corp

State Street Corp lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,279,561 shares of the software company’s stock after selling 4,767 shares during the quarter. State Street Corp owned about 4.78% of Adobe worth $7,845,757,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares in the last quarter. Koss Olinger Consulting LLC purchased a new stake in shares of Adobe in the 1st quarter valued at $305,000. Benjamin Edwards Inc. lifted its stake in Adobe by 3.3% during the 1st quarter. Benjamin Edwards Inc. now owns 10,469 shares of the software company’s stock worth $4,015,000 after acquiring an additional 332 shares in the last quarter. Linscomb Wealth Inc. lifted its stake in Adobe by 4.4% during the 1st quarter. Linscomb Wealth Inc. now owns 5,561 shares of the software company’s stock worth $2,133,000 after acquiring an additional 234 shares in the last quarter. Finally, Cove Private Wealth LLC boosted its position in Adobe by 6.8% in the 1st quarter. Cove Private Wealth LLC now owns 3,379 shares of the software company’s stock valued at $1,296,000 after buying an additional 214 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Monday. Piper Sandler decreased their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Mizuho lowered their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Citigroup decreased their target price on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating on the stock in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $424.74.

Adobe Price Performance

ADBE opened at $339.12 on Tuesday. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $557.90. The company has a market cap of $141.96 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.27 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $336.08 and a two-hundred day moving average of $358.83.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 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 firm posted $4.65 earnings per share. 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 and its Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts expect 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.