Montag A & Associates Inc. Sells 162 Shares of Adobe Inc. $ADBE

Montag A & Associates Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 32,672 shares of the software company’s stock after selling 162 shares during the quarter. Montag A & Associates Inc.’s holdings in Adobe were worth $12,640,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. grew its position in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. grew its holdings in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new stake in Adobe in the first quarter worth $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in Adobe by 1,482.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the last quarter. Finally, Amundi raised its stake in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. Institutional investors own 81.79% of the company’s stock.

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 stock was 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 trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADBE shares. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $328.85 on Tuesday. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $137.66 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.51 and a beta of 1.47. The company has a 50 day moving average of $347.66 and a 200 day moving average of $368.10.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 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 firm 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 business earned $4.65 EPS. The business’s revenue for the quarter 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, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.