FineMark National Bank & Trust Reduces Stock Holdings in Adobe Inc. $ADBE

FineMark National Bank & Trust lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,822 shares of the software company’s stock after selling 1,891 shares during the quarter. FineMark National Bank & Trust’s holdings in Adobe were worth $19,275,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter valued at about $25,000. LSV Asset Management boosted its position in Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after acquiring an additional 56 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the 1st quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe in the 2nd quarter worth approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 0.2%

Shares of Adobe stock opened at $324.47 on Wednesday. The company has a 50-day simple moving average of $345.35 and a two-hundred day simple moving average of $366.32. The stock has a market capitalization of $135.82 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Adobe Inc. has a 52-week low of $320.80 and a 52-week high of $557.90. 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 (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS 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 analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The business’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, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADBE. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Barclays set a $465.00 price objective on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Evercore ISI decreased their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $433.41.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on 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 $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Company 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.