Camden National Bank Boosts Stock Position in Adobe Inc. $ADBE

Camden National Bank raised its position in Adobe Inc. (NASDAQ:ADBE) by 44.2% during the second quarter, Holdings Channel.com reports. The firm owned 35,180 shares of the software company’s stock after buying an additional 10,787 shares during the period. Adobe accounts for about 2.0% of Camden National Bank’s holdings, making the stock its 12th largest holding. Camden National Bank’s holdings in Adobe were worth $13,610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1248 Management LLC acquired a new stake in Adobe during the first quarter worth approximately $25,000. LSV Asset Management lifted its stake in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Adobe during the first quarter worth $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Adobe during the first quarter worth $30,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Adobe in the second quarter valued at $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 3.8%

Shares of ADBE stock opened at $324.19 on Friday. The stock has a market cap of $135.71 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $557.90. The firm’s 50 day moving average price is $343.44 and its two-hundred day moving average price is $365.22.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup reduced their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. Barclays set a $465.00 target price on shares of Adobe and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Melius lowered shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target for the company. in a research report on Monday, August 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $405.00 price target on shares of Adobe in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and an average price target of $428.96.

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.