Legacy Trust Has $1.63 Million Stake in Adobe Inc. $ADBE

Legacy Trust trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,220 shares of the software company’s stock after selling 64 shares during the period. Legacy Trust’s holdings in Adobe were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. increased its holdings in Adobe by 2.9% during 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 last quarter. GS Investments Inc. increased its holdings in Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co increased its holdings in Adobe by 1.9% during the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC increased its holdings in Adobe by 3.6% during the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. increased its holdings in Adobe by 5.2% during the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after buying an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 1.3%

ADBE opened at $346.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $145.15 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The company has a 50-day simple moving average of $353.22 and a 200 day simple moving average of $372.26.

Adobe (NASDAQ:ADBE) last issued its 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. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm 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. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADBE. Redburn Atlantic downgraded shares of Adobe from a “hold” rating to a “strong sell” rating and lowered their target price for the stock from $420.00 to $280.00 in a report on Wednesday, July 2nd. Piper Sandler decreased their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a report on Monday, June 16th. Redburn Partners set a $280.00 price objective on shares of Adobe in a report on Monday, September 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $433.41.

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.