Adobe Inc. $ADBE Stock Holdings Lowered by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 2.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,880 shares of the software company’s stock after selling 39 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Adobe were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. RB Capital Management LLC grew its position in Adobe by 0.4% in the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company’s stock valued at $2,198,000 after buying an additional 22 shares in the last quarter. Orin Green Financial LLC grew its position in Adobe by 3.8% in the 4th quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after buying an additional 23 shares in the last quarter. Schmidt P J Investment Management Inc. grew its position in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after buying an additional 25 shares in the last quarter. Vista Investment Management grew its position in Adobe by 3.1% in the 4th quarter. Vista Investment Management now owns 875 shares of the software company’s stock valued at $389,000 after buying an additional 26 shares in the last quarter. Finally, GS Investments Inc. grew its position in Adobe by 0.3% in the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after buying an additional 26 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and reduced their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a research report on Friday. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Finally, Bank of America raised their price objective on shares of Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Adobe Price Performance

NASDAQ ADBE opened at $349.36 on Monday. The company has a 50 day simple moving average of $357.32 and a 200-day simple moving average of $378.97. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The firm has a market capitalization of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.