Madison Asset Management LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,654 shares of the software company’s stock, valued at approximately $7,105,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP bought a new position in shares of Adobe in the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Adobe during the third quarter valued at approximately $26,000. TrustBank bought a new stake in Adobe during the fourth quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Adobe in the 2nd quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Adobe in the 4th quarter valued at $31,000. 81.79% of the stock is owned by institutional investors.
Adobe Price Performance
NASDAQ ADBE opened at $272.47 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a market cap of $108.31 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $370.86. The firm’s 50-day simple moving average is $230.10 and its two-hundred day simple moving average is $244.93.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Freedom Capital downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 target price (down from $350.00) on shares of Adobe in a report on Friday, June 12th. Mizuho dropped their price target on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. KeyCorp cut their price target on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a report on Friday, June 12th. Finally, Bank of America upped their price objective on shares of Adobe from $190.00 to $220.00 and gave the stock an “underperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Hold” and an average price target of $270.96.
View Our Latest Stock Report on Adobe
Insider Buying and Selling
In other news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks purchased 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the transaction, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by insiders.
Key Stories Impacting Adobe
Here are the key news stories impacting Adobe this week:
- Positive Sentiment: Adobe’s recent rally has been supported by improving short-term momentum and a broader rotation out of semiconductor stocks into lagging technology names. The company is also viewed by some analysts as undervalued after its earlier decline. Netflix, Salesforce, and Adobe Rally as Investors Rotate Out of Semiconductors and Into Beaten Down Stocks Is It Too Late to Buy Adobe Inc After Rally? GF Value Says Undervalued
- Positive Sentiment: Adobe’s freemium strategy for AI-powered tools— including holding off on some price increases to expand its user base—could accelerate adoption and support the company’s goal of double-digit annual recurring-revenue growth. Analysts also continue to favor Adobe over DocuSign, citing its stronger competitive position. Is Adobe Below Fair Value On Its Freemium AI Push?
- Neutral Sentiment: A dispute involving Rebel Creamery’s packaging design created with Adobe Illustrator has led to a court-ordered rebrand and Rebel’s Chapter 11 filing. The matter concerns an Adobe software user and does not appear to create a material financial impact for Adobe. How a DIY Adobe Illustrator Design Landed Rebel Creamery in a $23.8 Million Fight
- Negative Sentiment: Bank of America raised its price target but retained an “underperform” rating. Its new target remains materially below Adobe’s recent trading level, signaling concern that the rally may have outpaced the company’s near-term fundamentals. Bank of America Raises Adobe Price Target While Maintaining Underperform Rating
Adobe Company Profile
Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.
The company’s core offerings are organized around digital media and digital experience.
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