Northwestern Mutual Wealth Management Co. Has $27.28 Million Stock Position in Adobe Inc. $ADBE

Northwestern Mutual Wealth Management Co. reduced its position in Adobe Inc. (NASDAQ:ADBE) by 49.0% during the second quarter, HoldingsChannel reports. The firm owned 70,516 shares of the software company’s stock after selling 67,735 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Adobe were worth $27,281,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lathrop Investment Management Co. boosted its holdings in Adobe by 2.8% in 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. grew its position 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 buying an additional 1,093 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Adobe in the 2nd quarter worth about $328,000. Koss Olinger Consulting LLC purchased a new stake in shares of Adobe in the 1st quarter valued at about $305,000. Finally, Bourgeon Capital Management LLC boosted its position in shares of Adobe by 41.0% during the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock valued at $9,548,000 after acquiring an additional 7,176 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays set a $465.00 target price on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. Royal Bank Of Canada reduced their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Hold” and a consensus price target of $428.96.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $320.25 on Friday. The company’s fifty day simple moving average is $339.41 and its two-hundred day simple moving average is $362.63. Adobe Inc. has a 12-month low of $311.58 and a 12-month high of $557.90. The firm has a market cap of $134.05 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. 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 posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. Adobe’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, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.