Stock Yards Bank & Trust Co. Reduces Position in Adobe Inc. $ADBE

Stock Yards Bank & Trust Co. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,365 shares of the software company’s stock after selling 3,374 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Adobe were worth $12,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Adobe in the first quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new stake in shares of Adobe in the first quarter worth about $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Down 1.3%

Shares of NASDAQ ADBE opened at $346.74 on Friday. Adobe Inc. has a one year low of $330.04 and a one year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $353.22 and its two-hundred day simple moving average is $372.37. The stock has a market capitalization 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 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $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. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Rothschild & Co Redburn cut shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. TD Cowen decreased their price objective 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. Finally, Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.