Securian Asset Management Inc. Sells 777 Shares of Adobe Inc. $ADBE

Key Points

• Securian Asset Management Inc. reduced its stake in Adobe Inc. by 3.4% in Q2, selling 777 shares and now holding 22,283 shares worth approximately $8.62 million.
• Adobe recently reported quarterly earnings of $5.31 per share, exceeding expectations, with a revenue of $5.99 billion, which was up 10.7% year-over-year.
• Several analysts have adjusted their price targets for Adobe, with Oppenheimer lowering its target from $500 to $460 while maintaining an "outperform" rating.

Securian Asset Management Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,283 shares of the software company's stock after selling 777 shares during the period. Securian Asset Management Inc.'s holdings in Adobe were worth $8,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Brighton Jones LLC increased its stake in Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Adobe by 22.3% during the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company's stock worth $2,991,000 after purchasing an additional 1,422 shares during the last quarter. Garde Capital Inc. purchased a new position in Adobe during the first quarter worth about $34,000. Ridgecrest Wealth Partners LLC boosted its holdings in Adobe by 9.3% during the first quarter. Ridgecrest Wealth Partners LLC now owns 972 shares of the software company's stock worth $373,000 after purchasing an additional 83 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in Adobe by 2.6% during the first quarter. Flagship Harbor Advisors LLC now owns 8,201 shares of the software company's stock worth $3,145,000 after purchasing an additional 211 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $343.40 on Tuesday. The company's 50 day moving average is $351.18 and its 200-day moving average is $368.72. Adobe Inc. has a 12-month low of $327.50 and a 12-month high of $557.90. 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 $143.75 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer cut their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th. BMO Capital Markets dropped their target price on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a research note on Friday, September 12th. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Finally, Melius cut shares of Adobe from a "hold" rating to a "sell" rating and set a $310.00 target price on the stock. in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $433.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.