Bangor Savings Bank Has $1.61 Million Stock Position in Adobe Inc. $ADBE

Bangor Savings Bank lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 4,171 shares of the software company’s stock after selling 142 shares during the period. Bangor Savings Bank’s holdings in Adobe were worth $1,614,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. grew its stake in Adobe by 91.4% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 222 shares of the software company’s stock valued at $86,000 after buying an additional 106 shares during the last quarter. TruWealth Advisors LLC grew its stake in Adobe by 24.3% in the 2nd quarter. TruWealth Advisors LLC now owns 1,786 shares of the software company’s stock valued at $691,000 after buying an additional 349 shares during the last quarter. RB Capital Management LLC grew its stake in Adobe by 2.1% in the 2nd quarter. RB Capital Management LLC now owns 4,927 shares of the software company’s stock valued at $1,906,000 after buying an additional 102 shares during the last quarter. RDA Financial Network grew its stake in Adobe by 1.2% in the 2nd quarter. RDA Financial Network now owns 7,249 shares of the software company’s stock valued at $2,804,000 after buying an additional 88 shares during the last quarter. Finally, Sage Capital Advisors llc grew its stake in Adobe by 2.2% in the 2nd quarter. Sage Capital Advisors llc now owns 6,036 shares of the software company’s stock valued at $2,335,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADBE. Robert W. Baird upped their price target on shares of Adobe from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Barclays increased their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, June 13th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight 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 has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Stock Performance

NASDAQ ADBE opened at $349.36 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $148.20 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.66 and a beta of 1.48. The firm’s 50 day simple moving average is $357.32 and its 200 day simple moving average is $379.37. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 56.30%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. 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, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.