Norway Savings Bank Has $1.40 Million Stock Holdings in Adobe Inc. $ADBE

Norway Savings Bank increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,608 shares of the software company’s stock after acquiring an additional 678 shares during the quarter. Norway Savings Bank’s holdings in Adobe were worth $1,396,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in Adobe in the first quarter valued at about $34,000. PFG Advisors lifted its stake in Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after buying an additional 855 shares during the period. Krane Funds Advisors LLC lifted its stake in Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after buying an additional 730 shares during the period. Financial Counselors Inc. lifted its stake in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after buying an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new position in Adobe in the first quarter valued at about $305,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 0.3%

NASDAQ:ADBE opened at $349.36 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $148.20 billion, a PE ratio of 21.77, a PEG ratio of 1.66 and a beta of 1.48. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The stock has a 50-day simple moving average of $357.32 and a 200 day simple moving average of $379.80.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 56.30% and a net margin of 30.01%.Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ADBE shares. BMO Capital Markets cut their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday. Piper Sandler cut their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and cut their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Stifel Nicolaus lowered their price target on Adobe from $525.00 to $480.00 and set a “buy” rating for the company in a report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.63.

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.