Adobe Inc. $ADBE Shares Bought by Central Bank & Trust Co.

by · The Markets Daily

Central Bank & Trust Co. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 19,886 shares of the software company’s stock after buying an additional 343 shares during the quarter. Adobe comprises about 1.3% of Central Bank & Trust Co.’s investment portfolio, making the stock its 25th biggest holding. Central Bank & Trust Co.’s holdings in Adobe were worth $7,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Byrne Asset Management LLC raised its position in Adobe by 14.0% during the second quarter. Byrne Asset Management LLC now owns 3,061 shares of the software company’s stock worth $1,184,000 after acquiring an additional 376 shares during the last quarter. Lifestyle Asset Management Inc. raised its position in Adobe by 19.1% during the second quarter. Lifestyle Asset Management Inc. now owns 792 shares of the software company’s stock worth $306,000 after acquiring an additional 127 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its position in Adobe by 6.8% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,414 shares of the software company’s stock worth $547,000 after acquiring an additional 90 shares during the last quarter. Bay Rivers Group raised its position in Adobe by 6.6% during the second quarter. Bay Rivers Group now owns 1,039 shares of the software company’s stock worth $402,000 after acquiring an additional 64 shares during the last quarter. Finally, Riversedge Advisors LLC raised its position in Adobe by 7.2% during the second quarter. Riversedge Advisors LLC now owns 578 shares of the software company’s stock worth $224,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $347.10 on Tuesday. 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 quick ratio of 0.99 and a current ratio of 1.02. The company has a 50 day moving average price of $356.72 and a 200 day moving average price of $378.33. The firm has a market capitalization of $147.24 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48.

Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping 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 firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. Adobe’s revenue for the quarter 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. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADBE. Oppenheimer cut their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and cut their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a research report on Wednesday, July 2nd. Redburn Partners set a $280.00 price objective on shares of Adobe in a research report on Monday, September 1st. Finally, Piper Sandler cut 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $435.63.

Check Out Our Latest Report on Adobe

Adobe Profile

(Free Report)

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.

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