Adobe Inc. $ADBE Shares Bought by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,713 shares of the software company’s stock after purchasing an additional 495 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Adobe were worth $3,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. 1248 Management LLC acquired a new position in shares of Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Adobe in the first quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new stake in Adobe in the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC acquired a new position in Adobe during the first quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new position in Adobe during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ADBE shares. UBS Group lowered their price objective on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Royal Bank Of Canada lowered their price target on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Robert W. Baird raised their price objective on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Finally, Bank of America increased their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 1.3%

Shares of NASDAQ:ADBE opened at $346.74 on Monday. The company’s fifty day moving average is $353.22 and its two-hundred day moving average is $372.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The stock has a market capitalization of $145.15 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current 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.