Field & Main Bank Sells 1,053 Shares of Adobe Inc. $ADBE

Field & Main Bank cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 30.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,390 shares of the software company’s stock after selling 1,053 shares during the quarter. Field & Main Bank’s holdings in Adobe were worth $925,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after acquiring an additional 126,688 shares in the last quarter. Amundi boosted its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson restated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Royal Bank Of Canada cut their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Barclays set a $465.00 price target on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target of $433.41.

Adobe Stock Down 6.1%

ADBE stock opened at $337.86 on Thursday. 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 business’s fifty day moving average price is $351.39 and its two-hundred day moving average price is $368.87. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90. The stock has a market capitalization of $141.43 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.61 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.