NBT Bank N A NY Has $890,000 Stake in Adobe Inc. $ADBE

NBT Bank N A NY decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,301 shares of the software company’s stock after selling 420 shares during the quarter. NBT Bank N A NY’s holdings in Adobe were worth $890,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADBE. Assenagon Asset Management S.A. grew its holdings in shares of Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after acquiring an additional 1,856,544 shares in the last quarter. Nuveen LLC bought a new position in shares of Adobe in the 1st quarter valued at about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after acquiring an additional 1,216,351 shares in the last quarter. Finally, Amundi grew its holdings in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after acquiring an additional 961,895 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.1%

Shares of NASDAQ:ADBE opened at $348.77 on Thursday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market cap of $146.00 billion, a PE ratio of 21.73, a P/E/G ratio of 1.56 and a beta of 1.49. The business has a 50 day moving average of $352.08 and a 200-day moving average of $371.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The business’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. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Barclays lifted their price target on Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a report on Monday, August 11th. Finally, Piper Sandler reduced their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target of $433.41.

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.