Rep. Jefferson Shreve Sells Adobe Inc. (NASDAQ:ADBE) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Adobe Inc. (NASDAQ:ADBE). In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in Adobe stock on May 12th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Hubbell (NYSE:HUBB) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Trane Technologies (NYSE:TT) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of NiSource (NYSE:NI) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Johnson & Johnson (NYSE:JNJ) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of AppLovin (NASDAQ:APP) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of Fiserv (NYSE:FI) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of CNO Financial Group (NYSE:CNO) on 5/12/2025.
• Sold $50,001 – $100,000 in shares of Cboe Global Markets (NASDAQ:CBOE) on 5/12/2025.
• Sold $15,001 – $50,000 in shares of Lam Research (NASDAQ:LRCX) on 5/12/2025.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $372.46 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a 50 day simple moving average of $392.60 and a two-hundred day simple moving average of $401.60. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.77 and a beta of 1.51.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.48 EPS. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $480.00 price target on shares of Adobe in a research report on Thursday, June 5th. Bank of America upped their target price on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. UBS Group upped their target price on shares of Adobe from $380.00 to $430.00 and gave the company a “neutral” rating in a research report on Monday, June 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $450.00 price target on shares of Adobe in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $473.88.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Norges Bank purchased a new stake in Adobe during the 4th quarter worth about $2,553,035,000. GAMMA Investing LLC boosted its stake in Adobe by 46,806.6% in the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company’s stock worth $1,147,049,000 after buying an additional 2,984,391 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Adobe in the 1st quarter worth about $607,443,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

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Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.