Rep. Robert Bresnahan, Jr. Sells Adobe Inc. (NASDAQ:ADBE) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Adobe Inc. (NASDAQ:ADBE). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Adobe stock on February 25th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Adobe Trading Down 2.6 %

ADBE traded down $10.44 during mid-day trading on Friday, hitting $385.71. The stock had a trading volume of 3,828,723 shares, compared to its average volume of 3,319,955. The stock’s fifty day simple moving average is $431.81 and its 200-day simple moving average is $470.42. The firm has a market capitalization of $164.39 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm earned $4.48 earnings per share. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADBE shares. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Robert W. Baird reduced their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Jefferies Financial Group reduced their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $530.00 price objective on shares of Adobe in a report on Wednesday, March 19th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $533.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in shares of Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares during the last quarter. Geode Capital Management LLC grew its holdings in Adobe by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock valued at $4,739,788,000 after buying an additional 151,286 shares in the last quarter. Norges Bank acquired a new stake in shares of Adobe during the fourth quarter worth $2,553,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Adobe by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company’s stock worth $2,375,345,000 after buying an additional 600,146 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Adobe by 14.5% in the fourth quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock valued at $2,363,125,000 after acquiring an additional 672,919 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

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

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.