City State Bank Sells 220 Shares of Adobe Inc. $ADBE

City State Bank reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 24.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 679 shares of the software company’s stock after selling 220 shares during the period. City State Bank’s holdings in Adobe were worth $263,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% during the second 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 buying an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. boosted its stake in Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC bought a new stake in Adobe during the first quarter valued at $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock valued at $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi boosted its stake in Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after buying an additional 961,895 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore ISI dropped their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Piper Sandler dropped their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. TD Cowen dropped their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Finally, Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 0.2%

NASDAQ ADBE opened at $353.52 on Friday. Adobe Inc. has a 1-year low of $327.50 and a 1-year high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $351.71 and a 200-day moving average of $368.72. The firm has a market cap of $147.98 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 EPS. Adobe’s revenue for the quarter 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, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current 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.