AGF Management Ltd. Sells 1,526 Shares of Adobe Inc. $ADBE

AGF Management Ltd. decreased its position in Adobe Inc. (NASDAQ:ADBE) by 62.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 899 shares of the software company’s stock after selling 1,526 shares during the period. AGF Management Ltd.’s holdings in Adobe were worth $348,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. grew its position in shares of Adobe by 0.9% during the 1st quarter. Summit Investment Advisors Inc. now owns 24,824 shares of the software company’s stock worth $9,521,000 after buying an additional 225 shares in the last quarter. One Wealth Capital Management LLC lifted its stake in Adobe by 16.2% in the second quarter. One Wealth Capital Management LLC now owns 2,906 shares of the software company’s stock worth $1,124,000 after acquiring an additional 406 shares during the period. AE Wealth Management LLC lifted its stake in Adobe by 14.0% in the second quarter. AE Wealth Management LLC now owns 31,593 shares of the software company’s stock worth $12,223,000 after acquiring an additional 3,883 shares during the period. Paradigm Asset Management Co. LLC grew its holdings in Adobe by 57.1% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the software company’s stock worth $213,000 after acquiring an additional 200 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Adobe during the 2nd quarter valued at about $761,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Citigroup cut their price objective 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. BMO Capital Markets restated an “outperform” rating and set a $405.00 target price on shares of Adobe in a report on Wednesday, October 29th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Finally, Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Up 1.3%

Adobe stock opened at $333.22 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 stock has a market cap of $139.49 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The stock has a 50-day moving average of $347.41 and a two-hundred day moving average of $367.86. Adobe Inc. has a one year low of $323.03 and a one year high of $557.90.

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

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the transaction, the chief accounting officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.