Jupiter Asset Management Ltd. Cuts Stock Holdings in Adobe Inc. $ADBE

Jupiter Asset Management Ltd. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 28.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 187,243 shares of the software company’s stock after selling 75,617 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Adobe were worth $72,441,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. PFG Advisors boosted its position in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after purchasing an additional 855 shares during the last quarter. Lathrop Investment Management Co. increased its position in shares of 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 last quarter. Mcdaniel Terry & Co. raised its stake 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 worth $15,284,000 after purchasing an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC purchased a new position in shares of Adobe in the 2nd quarter worth about $328,000. Finally, Koss Olinger Consulting LLC bought a new position in Adobe during the first quarter valued at about $305,000. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was 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 owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ADBE shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a research report on Wednesday, October 29th. Citigroup decreased their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Cowen reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Finally, Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Up 1.3%

ADBE opened at $333.22 on Wednesday. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. The company has a market cap of $139.49 billion, a PE ratio of 20.76, a price-to-earnings-growth 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. The company has a 50 day moving average of $347.41 and a 200 day moving average of $367.86.

Adobe (NASDAQ:ADBE) last issued its earnings results 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 business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter 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. On average, sell-side 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.