Kennebec Savings Bank Purchases 117 Shares of Adobe Inc. $ADBE

Kennebec Savings Bank lifted its position in Adobe Inc. (NASDAQ:ADBE) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360 shares of the software company’s stock after acquiring an additional 117 shares during the quarter. Kennebec Savings Bank’s holdings in Adobe were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADBE. 1248 Management LLC bought a new stake in shares of Adobe in the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter worth $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the 1st quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter worth $30,000. Finally, Garde Capital Inc. bought a new position in Adobe during the first quarter valued at about $34,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Barclays increased their price target on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Wells Fargo & Company restated 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. Oppenheimer reduced their price target on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. Finally, Citigroup reduced their price target on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Adobe has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 2.6%

Shares of Adobe stock opened at $343.72 on Thursday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a market cap of $143.88 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.58 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $354.11 and its 200-day moving average price is $373.01.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm posted $4.65 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts expect 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.