Washington Trust Bank Reduces Position in Adobe Inc. $ADBE

Washington Trust Bank decreased its position in Adobe Inc. (NASDAQ:ADBE) by 98.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 804 shares of the software company’s stock after selling 43,250 shares during the quarter. Washington Trust Bank’s holdings in Adobe were worth $311,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. lifted its holdings in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the period. GS Investments Inc. grew its holdings in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock valued at $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co raised its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC grew its stake in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after acquiring an additional 27 shares during the period. Finally, VanderPol Investments L.L.C. grew its holdings in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after acquiring an additional 27 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 2.4%

Adobe stock opened at $327.35 on Friday. The company has a market cap of $137.03 billion, a PE ratio of 20.40, a PEG ratio of 1.51 and a beta of 1.47. Adobe Inc. has a fifty-two week low of $324.55 and a fifty-two week high of $557.90. The business’s 50-day simple moving average is $348.81 and its two-hundred day simple moving average is $368.20. 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 the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The firm’s revenue 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. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADBE. Piper Sandler lowered their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. UBS Group dropped their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. Cowen reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, Oppenheimer dropped their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.