Peoples Financial Services CORP. Lowers Holdings in Adobe Inc. $ADBE

Peoples Financial Services CORP. decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 19.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,779 shares of the software company’s stock after selling 692 shares during the quarter. Peoples Financial Services CORP.’s holdings in Adobe were worth $1,075,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Garde Capital Inc. purchased a new stake in shares of Adobe in the first quarter worth about $34,000. PFG Advisors boosted its stake in shares of Adobe by 20.8% in the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares during the last quarter. Krane Funds Advisors LLC boosted its stake 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 worth $533,000 after buying an additional 730 shares during the last quarter. Financial Counselors Inc. boosted its stake 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 worth $24,105,000 after buying an additional 5,298 shares during the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in Adobe during the first quarter worth approximately $305,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research report on Friday, June 13th. TD Cowen lowered their price target on Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research report on Friday, September 12th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Robert W. Baird increased their price target on Adobe from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Finally, Redburn Partners set a $280.00 price target on Adobe in a research report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $433.41.

Adobe Stock Performance

NASDAQ ADBE opened at $360.37 on Monday. The company has a market cap of $150.85 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.48. The stock’s 50 day simple moving average is $355.25 and its 200-day simple moving average is $373.60. Adobe Inc. has a 1-year low of $330.04 and a 1-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.

Adobe (NASDAQ:ADBE) last released its earnings results 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. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 earnings per share. 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 research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.