United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires 300 Shares of Adobe Inc. $ADBE

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its stake in Adobe Inc. (NASDAQ:ADBE) by 10.0% in the second quarter, HoldingsChannel reports. The fund owned 3,300 shares of the software company’s stock after purchasing an additional 300 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Adobe were worth $1,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lathrop Investment Management Co. increased its stake in shares of Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after buying an additional 718 shares during the period. Mcdaniel Terry & Co. grew its holdings in Adobe by 2.8% in the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after acquiring an additional 1,093 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new stake in Adobe in the 2nd quarter worth $328,000. Koss Olinger Consulting LLC purchased a new position in shares of Adobe in the first quarter valued at about $305,000. Finally, Bourgeon Capital Management LLC raised its stake in shares of Adobe by 41.0% during the second 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.

Analyst Ratings Changes

Several research firms recently issued reports on ADBE. Royal Bank Of Canada cut 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. Mizuho reduced their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Evercore ISI dropped their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $428.96.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Adobe Stock Down 0.6%

NASDAQ:ADBE opened at $317.52 on Thursday. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The company has a market capitalization of $132.91 billion, a PE ratio of 19.78, a P/E/G ratio of 1.51 and a beta of 1.47. The firm’s 50-day moving average price is $341.32 and its 200-day moving average price is $363.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Adobe’s quarterly 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. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal 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.