Adobe Inc. $ADBE Holdings Lifted by Smithfield Trust Co

Smithfield Trust Co boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 24.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,205 shares of the software company’s stock after buying an additional 638 shares during the period. Smithfield Trust Co’s holdings in Adobe were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ADBE. Breed s Hill Capital LLC lifted its position in shares of Adobe by 2.9% in the second quarter. Breed s Hill Capital LLC now owns 1,204 shares of the software company’s stock worth $466,000 after purchasing an additional 34 shares in the last quarter. Impax Asset Management Group plc lifted its position in Adobe by 458.2% in the 2nd quarter. Impax Asset Management Group plc now owns 12,654 shares of the software company’s stock worth $4,896,000 after buying an additional 10,387 shares in the last quarter. Calamos Advisors LLC grew its holdings in shares of Adobe by 0.9% during the 2nd quarter. Calamos Advisors LLC now owns 78,278 shares of the software company’s stock valued at $30,284,000 after acquiring an additional 664 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Adobe by 2.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 64,621 shares of the software company’s stock valued at $25,001,000 after acquiring an additional 1,299 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in shares of Adobe by 3.5% in the second quarter. United Asset Strategies Inc. now owns 33,149 shares of the software company’s stock worth $12,825,000 after acquiring an additional 1,122 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 1.1%

Shares of ADBE stock opened at $337.05 on Thursday. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $141.09 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The stock has a 50 day moving average of $347.18 and a 200-day moving average of $367.65.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $4.65 earnings per share. 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 analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cowen reissued a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, Barclays set a $465.00 price target on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.