Adobe Inc. $ADBE Shares Sold by Citizens National Bank Trust Department

Citizens National Bank Trust Department cut its stake in Adobe Inc. (NASDAQ:ADBE) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,407 shares of the software company’s stock after selling 156 shares during the period. Citizens National Bank Trust Department’s holdings in Adobe were worth $2,092,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Garde Capital Inc. purchased a new position in Adobe in the first quarter worth approximately $34,000. PFG Advisors raised its holdings in shares of Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after purchasing an additional 855 shares in the last quarter. Krane Funds Advisors LLC lifted its position in shares of Adobe by 110.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after purchasing an additional 730 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Adobe by 9.2% during the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe in the first quarter valued at $305,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ADBE shares. Citigroup decreased their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Bank of America boosted their target price on Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Evercore ISI lowered their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Robert W. Baird raised their price objective on shares of Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Finally, Oppenheimer reduced 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. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Down 0.5%

Shares of NASDAQ:ADBE opened at $348.31 on Wednesday. Adobe Inc. has a 1-year low of $330.04 and a 1-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 stock has a market cap of $145.80 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.57 and a beta of 1.49. The firm has a fifty day moving average price of $352.39 and a 200 day moving average price of $371.72.

Adobe (NASDAQ:ADBE) last announced its 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The business’s revenue 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 predict that Adobe Inc. will post 16.65 EPS for the current year.

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.