Country Club Bank Acquires 369 Shares of Adobe Inc. $ADBE

Country Club Bank grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 11.1% in the 2nd quarter, Holdings Channel reports. The fund owned 3,707 shares of the software company’s stock after purchasing an additional 369 shares during the quarter. Country Club Bank’s holdings in Adobe were worth $1,430,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADBE. Assenagon Asset Management S.A. increased its holdings in shares of Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after acquiring an additional 2,347,562 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. Nuveen LLC acquired a new position in shares of Adobe during the first quarter worth about $607,443,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Adobe by 1,482.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,298,389 shares of the software company’s stock worth $498,000 after buying an additional 1,216,351 shares during the period. Finally, Amundi boosted its position in shares of Adobe by 24.7% during the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 12th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $470.00 price objective (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Redburn Partners set a $280.00 price objective on Adobe in a research report on Monday, September 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research report on Saturday, September 27th. Finally, TD Cowen reduced their price target on Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Performance

ADBE opened at $348.31 on Wednesday. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The stock has a market cap of $145.80 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.57 and a beta of 1.49. The business has a 50 day moving average of $352.39 and a 200-day moving average of $371.72. 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 (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, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’s revenue 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 research analysts expect 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.