CNB Bank Increases Holdings in Adobe Inc. $ADBE

CNB Bank lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,297 shares of the software company’s stock after buying an additional 138 shares during the period. CNB Bank’s holdings in Adobe were worth $889,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADBE. Assenagon Asset Management S.A. increased its stake in Adobe by 308.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares during the period. Goldman Sachs Group Inc. increased its stake in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Nuveen LLC purchased a new position in Adobe in the 1st quarter worth approximately $607,443,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Adobe by 1,482.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after purchasing an additional 1,216,351 shares during the period. Finally, Amundi increased its stake in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective on the stock. in a research report on Wednesday, July 2nd. Oppenheimer dropped their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 0.2%

Adobe stock opened at $353.52 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $351.71 and its two-hundred day simple moving average is $368.72. Adobe Inc. has a 12 month low of $327.50 and a 12 month high of $557.90. The company has a market capitalization of $147.98 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The company’s 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, equities analysts predict 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.