42,242 Shares in Adobe Inc. $ADBE Bought by Oak Associates Ltd. OH

Oak Associates Ltd. OH bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 42,242 shares of the software company’s stock, valued at approximately $16,343,000. Adobe comprises approximately 1.1% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lathrop Investment Management Co. increased its stake in Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after acquiring an additional 718 shares during the period. Mcdaniel Terry & Co. boosted its holdings in Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $328,000. Koss Olinger Consulting LLC acquired a new position in shares of Adobe in the 1st quarter worth approximately $305,000. Finally, Bourgeon Capital Management LLC lifted its position in shares of Adobe by 41.0% during the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock worth $9,548,000 after buying an additional 7,176 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI lowered their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Citigroup lowered their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Redburn Partners set a $280.00 price target on shares of Adobe in a report on Monday, September 1st. Finally, UBS Group decreased their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $428.96.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 149 shares of Adobe 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 completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Stock Down 1.7%

Shares of NASDAQ:ADBE opened at $318.73 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $133.42 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.51 and a beta of 1.47. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The company’s 50-day moving average price is $342.88 and its two-hundred day moving average price is $364.49.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.