Huntington National Bank Has $9.08 Million Position in Adobe Inc. $ADBE

Huntington National Bank lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 17.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,467 shares of the software company’s stock after selling 4,978 shares during the quarter. Huntington National Bank’s holdings in Adobe were worth $9,079,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADBE. Assenagon Asset Management S.A. grew its position 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 worth $1,202,979,000 after buying an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 purchasing 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 $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake 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 purchasing an additional 1,216,351 shares during the last quarter. Finally, Amundi increased its stake 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 purchasing an additional 961,895 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Barclays set a $465.00 price target on Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Oppenheimer decreased their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. Finally, Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $433.41.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Adobe Trading Down 0.6%

NASDAQ ADBE opened at $335.35 on Wednesday. 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 Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a market cap of $140.38 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The business’s fifty day moving average is $349.76 and its 200 day moving average is $368.72.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the business 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 expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.