Sen. Markwayne Mullin Purchases Shares of Adobe Inc. (NASDAQ:ADBE)

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Adobe Inc. NASDAQ: ADBE. In a filing disclosed on June 11th, the Senator disclosed that they had bought between $15,001 and $50,000 in Adobe stock on May 13th.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $50,001 - $100,000 in shares of Valero Energy NYSE: VLO on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of LPL Financial NASDAQ: LPLA on 5/13/2025.
• Purchased $50,001 - $100,000 in shares of Chevron NYSE: CVX on 5/13/2025.
• Purchased $50,001 - $100,000 in shares of Zoetis NYSE: ZTS on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of L3Harris Technologies NYSE: LHX on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of CSX NASDAQ: CSX on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of Texas Instruments NASDAQ: TXN on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of ConocoPhillips NYSE: COP on 5/13/2025.
• Purchased $15,001 - $50,000 in shares of Applied Materials NASDAQ: AMAT on 5/13/2025.
• Sold $500,001 - $1,000,000 in shares of SPDR S&P 500 ETF Trust NYSEARCA: SPY on 5/13/2025.

Adobe Stock Performance

Shares of ADBE stock traded up $0.15 during trading on Friday, reaching $371.84. 363,392 shares of the company's stock traded hands, compared to its average volume of 3,759,076. The company has a market capitalization of $157.74 billion, a P/E ratio of 23.78, a PEG ratio of 1.77 and a beta of 1.51. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm's 50-day moving average is $391.94 and its 200 day moving average is $401.19. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. Adobe had a net margin of 30.39% and a return on equity of 53.68%. Adobe's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Institutional Investors Weigh In On Adobe

A number of large investors have recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH lifted its position in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after purchasing an additional 39,888 shares during the period. 1248 Management LLC purchased a new position in Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe during the 1st quarter valued at about $26,000. SWAN Capital LLC purchased a new position in Adobe during the 4th quarter valued at about $28,000. Finally, Copia Wealth Management purchased a new position in Adobe during the 4th quarter valued at about $28,000. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ADBE. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research note on Monday, June 23rd. Phillip Securities upgraded shares of Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Redburn Atlantic cut shares of Adobe from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. 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. Finally, Evercore ISI reiterated an "outperform" rating and issued a $475.00 target price on shares of Adobe in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $473.88.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father's plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

About Adobe

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.