Rep. Robert Bresnahan, Jr. Sells Adobe Inc. (NASDAQ:ADBE) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Adobe Inc. (NASDAQ:ADBE). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Adobe stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $385.71 on Friday. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The stock has a market capitalization of $167.94 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $431.81 and a 200-day simple moving average of $470.42.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the company earned $4.48 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Citigroup cut their price target on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Summit Redstone set a $410.00 price objective on Adobe in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $533.85.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADBE. 1ST Source Bank grew its stake in shares of Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares during the period. Sepio Capital LP boosted its position in shares of Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company’s stock worth $442,000 after buying an additional 22 shares during the period. Cadence Bank lifted its position in Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after acquiring an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its position in shares of Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after purchasing an additional 22 shares in the last quarter. Finally, RB Capital Management LLC boosted its position in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock valued at $2,198,000 after buying an additional 22 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.