Penobscot Investment Management Company Inc. Has $7.40 Million Holdings in Adobe Inc. $ADBE

Penobscot Investment Management Company Inc. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,130 shares of the software company’s stock after selling 34 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Adobe were worth $7,401,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ADBE. Elevate Capital Advisors LLC acquired a new position in Adobe in the second quarter worth $2,002,000. Sava Infond d.o.o. increased its stake in shares of Adobe by 3.3% in the second quarter. Sava Infond d.o.o. now owns 9,395 shares of the software company’s stock valued at $3,635,000 after buying an additional 300 shares in the last quarter. 111 Capital raised its holdings in shares of Adobe by 523.3% in the second quarter. 111 Capital now owns 21,772 shares of the software company’s stock valued at $8,423,000 after buying an additional 18,279 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Adobe during the 2nd quarter worth about $108,000. Finally, QRG Capital Management Inc. lifted its position in Adobe by 2.1% during the 2nd quarter. QRG Capital Management Inc. now owns 73,392 shares of the software company’s stock worth $28,394,000 after buying an additional 1,509 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 1.3%

NASDAQ:ADBE opened at $346.74 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90. The firm has a market capitalization of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.58 and a beta of 1.49. The business’s 50-day moving average price is $353.22 and its two-hundred day moving average price is $372.37.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 EPS. 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 expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. Phillip Securities raised shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Barclays boosted their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Finally, DA Davidson reiterated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research report on Friday, September 12th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.