Cape ANN Savings Bank Cuts Stake in Adobe Inc. $ADBE

Cape ANN Savings Bank cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.3% during the second quarter, HoldingsChannel.com reports. The firm owned 2,898 shares of the software company’s stock after selling 98 shares during the period. Cape ANN Savings Bank’s holdings in Adobe were worth $1,121,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Segment Wealth Management LLC raised its stake in Adobe by 17.7% in the second quarter. Segment Wealth Management LLC now owns 3,946 shares of the software company’s stock valued at $1,527,000 after buying an additional 594 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Adobe by 0.5% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 13,046 shares of the software company’s stock worth $5,047,000 after purchasing an additional 65 shares in the last quarter. New Century Financial Group LLC acquired a new position in Adobe during the 2nd quarter valued at approximately $1,202,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Adobe by 4.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 28,604 shares of the software company’s stock valued at $11,066,000 after buying an additional 1,124 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its stake in Adobe by 224.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 282 shares of the software company’s stock worth $109,000 after acquiring an additional 195 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Down 1.3%

Shares of ADBE opened at $346.74 on Friday. Adobe Inc. has a 12 month low of $330.04 and a 12 month 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’s 50 day moving average is $353.22 and its two-hundred day moving average is $372.37. The firm has a market cap of $145.15 billion, a P/E ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly 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 net margin of 30.01% and a return on equity of 57.54%. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company posted $4.65 EPS. Adobe’s quarterly revenue 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. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ADBE. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a report on Monday, August 11th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research note on Wednesday, July 2nd. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Saturday, September 27th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $433.41.

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.