Bank of Jackson Hole Trust Grows Stock Holdings in Adobe Inc. $ADBE

Bank of Jackson Hole Trust raised its position in Adobe Inc. (NASDAQ:ADBE) by 10.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,324 shares of the software company’s stock after acquiring an additional 214 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Adobe were worth $899,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. PFG Advisors increased its position in shares of Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after acquiring an additional 855 shares during the period. Krane Funds Advisors LLC increased its position in shares of Adobe by 110.4% in the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock valued at $533,000 after acquiring an additional 730 shares during the period. Mcdaniel Terry & Co. increased its position in shares of Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after acquiring an additional 1,093 shares during the period. Financial Counselors Inc. increased its position in shares of Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock valued at $24,105,000 after acquiring an additional 5,298 shares during the period. Finally, Jackson Thornton Wealth Management LLC bought a new stake in shares of Adobe during the 2nd quarter valued at about $328,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.6%

NASDAQ:ADBE opened at $359.91 on Wednesday. Adobe Inc. has a one year low of $327.50 and a one 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 company’s 50-day simple moving average is $351.70 and its 200 day simple moving average is $368.98. The firm has a market capitalization of $150.66 billion, a P/E ratio of 22.42, a PEG ratio of 1.60 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Adobe’s quarterly 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. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer cut their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. UBS Group cut their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Redburn Atlantic lowered shares of Adobe from a “hold” rating to a “strong sell” rating and cut their target price for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a research note on Friday, September 12th. Finally, Citigroup cut their target price on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently 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.