Independence Bank of Kentucky Reduces Stock Position in Adobe Inc. $ADBE

Independence Bank of Kentucky cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 32.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,835 shares of the software company’s stock after selling 1,378 shares during the quarter. Independence Bank of Kentucky’s holdings in Adobe were worth $1,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Brighton Jones LLC increased its holdings in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Rothschild Investment LLC increased its holdings in Adobe by 94.3% during the 1st quarter. Rothschild Investment LLC now owns 2,129 shares of the software company’s stock worth $817,000 after purchasing an additional 1,033 shares during the last quarter. Lantz Financial LLC increased its holdings in Adobe by 6.8% during the 1st quarter. Lantz Financial LLC now owns 740 shares of the software company’s stock worth $284,000 after purchasing an additional 47 shares during the last quarter. Peoples Bank KS increased its holdings in Adobe by 13.1% during the 1st quarter. Peoples Bank KS now owns 1,209 shares of the software company’s stock worth $464,000 after purchasing an additional 140 shares during the last quarter. Finally, Kaizen Financial Strategies increased its holdings in shares of Adobe by 2.9% in the 1st quarter. Kaizen Financial Strategies now owns 1,829 shares of the software company’s stock valued at $701,000 after acquiring an additional 52 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 1.8%

NASDAQ:ADBE opened at $360.37 on Monday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm has a market capitalization of $150.85 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.62 and a beta of 1.48. 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 has a 50 day simple moving average of $355.25 and a 200 day simple moving average of $373.60.

Adobe (NASDAQ:ADBE) last announced 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 firm 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 firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ADBE shares. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and lowered their price target for the company from $420.00 to $280.00 in a report on Wednesday, July 2nd. Rothschild & Co Redburn downgraded Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a report on Wednesday, July 2nd. Redburn Partners set a $280.00 price target on Adobe in a report on Monday, September 1st. Piper Sandler lowered their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $433.41.

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.