Midwest Trust Co Takes $24.33 Million Position in Adobe Inc. $ADBE

Midwest Trust Co bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 62,896 shares of the software company’s stock, valued at approximately $24,333,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. 1248 Management LLC purchased a new stake in shares of Adobe in the 1st quarter valued at $25,000. Flaharty Asset Management LLC acquired a new position in Adobe during the first quarter valued at $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the first quarter valued at $30,000. Nexus Investment Management ULC acquired a new stake in Adobe during the 2nd quarter worth about $31,000. Finally, Barnes Dennig Private Wealth Management LLC grew its position in Adobe by 44.9% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.1%

Shares of NASDAQ:ADBE opened at $326.95 on Friday. The business’s 50 day moving average price is $348.22 and its 200-day moving average price is $368.22. Adobe Inc. has a 1 year low of $323.03 and a 1 year high of $557.90. The firm has a market capitalization of $136.86 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The firm’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. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Cowen restated a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research note on Monday, August 11th. Finally, UBS Group lowered their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and an average price target of $433.41.

Insiders Place Their Bets

In related 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 value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.