Country Trust Bank Sells 4,726 Shares of Adobe Inc. $ADBE

Country Trust Bank lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.5% in the second quarter, Holdings Channel reports. The firm owned 81,296 shares of the software company’s stock after selling 4,726 shares during the period. Country Trust Bank’s holdings in Adobe were worth $31,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Inceptionr LLC boosted its holdings in shares of Adobe by 413.4% in the 2nd quarter. Inceptionr LLC now owns 5,781 shares of the software company’s stock worth $2,237,000 after buying an additional 4,655 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Adobe by 28.6% in the second quarter. J.W. Cole Advisors Inc. now owns 5,972 shares of the software company’s stock worth $2,310,000 after acquiring an additional 1,329 shares during the period. North Star Asset Management Inc. boosted its stake in Adobe by 2.8% in the second quarter. North Star Asset Management Inc. now owns 93,560 shares of the software company’s stock valued at $36,196,000 after acquiring an additional 2,514 shares during the last quarter. Oak Associates Ltd. OH purchased a new position in Adobe in the second quarter valued at about $16,343,000. Finally, Manchester Capital Management LLC grew its position in shares of Adobe by 1.3% during the 2nd quarter. Manchester Capital Management LLC now owns 2,934 shares of the software company’s stock valued at $1,135,000 after acquiring an additional 38 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. TD Cowen reduced their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Wells Fargo & Company lowered their price target on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Finally, Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Hold” and an average target price of $428.96.

Adobe Price Performance

ADBE stock opened at $319.55 on Wednesday. The firm has a 50 day moving average of $342.21 and a 200-day moving average of $364.04. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $557.90. The firm has a market capitalization of $133.76 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. Adobe’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, sell-side 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.