Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Adobe Inc. NASDAQ: ADBE. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $15,001 and $50,000 in Adobe stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
- Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
Adobe Price Performance
Shares of NASDAQ:ADBE traded up $1.30 during midday trading on Tuesday, hitting $397.24. The company's stock had a trading volume of 509,163 shares, compared to its average volume of 3,428,370. The company has a market cap of $169.30 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business's 50 day simple moving average is $378.57 and its 200 day simple moving average is $435.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the company posted $4.48 EPS. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
Institutional Trading of Adobe
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sepio Capital LP boosted its stake in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after buying an additional 22 shares during the last quarter. Cadence Bank lifted its position in shares of Adobe by 0.5% during the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its position in Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock valued at $651,000 after buying an additional 22 shares during the last quarter. RB Capital Management LLC raised its holdings in Adobe by 0.4% in the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after acquiring an additional 22 shares in the last quarter. Finally, Foster Group Inc. grew its holdings in Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock worth $234,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
Analysts Set New Price Targets
ADBE has been the topic of several research analyst reports. DA Davidson cut their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Citigroup lowered their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Summit Redstone set a $410.00 price objective on shares of Adobe in a report on Wednesday, March 19th. Finally, Royal Bank of Canada dropped their price objective on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $502.88.
Read Our Latest Analysis on ADBE
Insiders Place Their Bets
In related news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
Adobe Company Profile
(
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.
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