Night Squared LP Trims Stake in Adobe Inc. $ADBE

Night Squared LP reduced its position in Adobe Inc. (NASDAQ:ADBE) by 66.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,561 shares of the software company’s stock after selling 7,025 shares during the quarter. Night Squared LP’s holdings in Adobe were worth $1,378,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADBE. Schmidt P J Investment Management Inc. lifted its holdings in shares of Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after purchasing an additional 25 shares during the last quarter. Ted Buchan & Co raised its stake in Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock valued at $525,000 after buying an additional 26 shares during the last quarter. VanderPol Investments L.L.C. grew its stake in shares of Adobe by 5.2% during the first 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 last quarter. Rise Advisors LLC increased its holdings in shares of Adobe by 7.0% during the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after acquiring an additional 27 shares in the last quarter. Finally, FSM Wealth Advisors LLC boosted its stake in Adobe by 1.1% in the 2nd quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after purchasing an additional 30 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADBE shares. DA Davidson reiterated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research note on Thursday, November 20th. Mizuho dropped their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. BMO Capital Markets reissued an “outperform” rating and issued a $405.00 price objective on shares of Adobe in a report on Wednesday, October 29th. Barclays reiterated an “overweight” rating and issued a $415.00 price target on shares of Adobe in a report on Friday, December 5th. Finally, TD Cowen reduced their price objective on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $424.74.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $344.32 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $335.91 and a 200 day moving average of $358.39. The firm has a market cap of $144.13 billion, a PE ratio of 21.45, a PEG ratio of 1.24 and a beta of 1.54. Adobe Inc. has a one year low of $311.58 and a one year high of $552.83.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The company’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 and its Q4 2025 guidance at 5.350-5.400 EPS. As a group, research analysts predict 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.