Russell Investments Group Ltd. Buys 139,511 Shares of Adobe Inc. $ADBE

Russell Investments Group Ltd. increased its stake in Adobe Inc. (NASDAQ:ADBE) by 23.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 745,357 shares of the software company’s stock after purchasing an additional 139,511 shares during the quarter. Russell Investments Group Ltd. owned about 0.18% of Adobe worth $288,243,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in shares of Adobe during the first quarter valued at about $25,000. LSV Asset Management boosted its position in shares of Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after acquiring an additional 56 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe during the first quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC bought a new stake in Adobe during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Citigroup lowered their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Royal Bank Of Canada dropped their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Finally, 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. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $428.96.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $319.55 on Wednesday. The stock’s 50-day moving average is $342.21 and its 200 day moving average is $364.04. The stock has a market cap of $133.76 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 1-year low of $311.58 and a 1-year 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.

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, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. 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 anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.