Coastline Trust Co Has $2.45 Million Stock Position in Adobe Inc. $ADBE

Coastline Trust Co reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,344 shares of the software company’s stock after selling 41 shares during the period. Coastline Trust Co’s holdings in Adobe were worth $2,454,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after buying an additional 167 shares during the last quarter. Siemens Fonds Invest GmbH grew its stake in shares of Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares during the last quarter. Summit Global Investments grew its stake in shares of Adobe by 530.5% during the first quarter. Summit Global Investments now owns 2,995 shares of the software company’s stock worth $1,149,000 after buying an additional 2,520 shares during the last quarter. Welch Group LLC bought a new stake in shares of Adobe during the first quarter worth $209,000. Finally, Rothschild Investment LLC grew its stake in shares of Adobe by 94.3% during the first quarter. Rothschild Investment LLC now owns 2,129 shares of the software company’s stock worth $817,000 after buying an additional 1,033 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE opened at $360.37 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $150.85 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The firm’s fifty day simple moving average is $355.25 and its two-hundred day simple moving average is $373.63. Adobe Inc. has a 12 month low of $330.04 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating 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 firm 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 business earned $4.65 earnings per share. The business’s quarterly 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. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research note on Monday, August 11th. Finally, Barclays boosted their price objective on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $433.41.

About Adobe

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.