Adobe (NASDAQ:ADBE) Stock Price Down 1.8% – Here’s Why

by · The Markets Daily

Adobe Inc. (NASDAQ:ADBE – Get Free Report) shares fell 1.8% during mid-day trading on Monday . The company traded as low as $324.43 and last traded at $325.07. 3,258,727 shares changed hands during trading, a decline of 17% from the average session volume of 3,923,085 shares. The stock had previously closed at $331.11.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. Barclays set a $465.00 target price on Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target of $433.41.

Read Our Latest Research Report on ADBE

Adobe Stock Down 1.8%

The stock’s fifty day moving average price is $346.61 and its 200-day moving average price is $367.07. 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 company has a market capitalization of $136.07 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate 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 prior year, the company posted $4.65 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADBE. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 41,369,395 shares of the software company’s stock valued at $14,593,054,000 after buying an additional 344,816 shares during the last quarter. State Street Corp raised its position in Adobe by 1.7% during the third quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock worth $7,277,941,000 after acquiring an additional 352,448 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock valued at $1,981,448,000 after acquiring an additional 1,952,994 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after acquiring an additional 126,688 shares during the period. Finally, Norges Bank acquired a new position in shares of Adobe during the 2nd quarter worth about $2,029,950,000. 81.79% of the stock is owned by institutional investors and hedge funds.

About Adobe

(Get Free Report)

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.

Read More