Securian Asset Management Inc. Sells 777 Shares of Adobe Inc. $ADBE

Securian Asset Management Inc. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 22,283 shares of the software company’s stock after selling 777 shares during the period. Securian Asset Management Inc.’s holdings in Adobe were worth $8,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Schmidt P J Investment Management Inc. increased its holdings in Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after acquiring an additional 25 shares during the period. GS Investments Inc. increased its holdings in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after acquiring an additional 26 shares during the period. Ted Buchan & Co increased its holdings in Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after acquiring an additional 26 shares during the period. Lifeworks Advisors LLC increased its holdings in Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. increased its holdings in Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Wall Street Zen cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group cut their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Finally, BMO Capital Markets cut their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Price Performance

Shares of Adobe stock opened at $343.40 on Tuesday. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The stock has a market capitalization of $143.75 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company has a fifty day moving average of $351.18 and a 200-day moving average of $368.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The firm’s revenue 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. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current 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.