City State Bank Lowers Position in Adobe Inc. $ADBE

City State Bank cut its stake in Adobe Inc. (NASDAQ:ADBE) by 24.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 679 shares of the software company’s stock after selling 220 shares during the quarter. City State Bank’s holdings in Adobe were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SSA Swiss Advisors AG purchased a new stake in shares of Adobe in the second quarter worth approximately $3,608,000. Focus Partners Advisor Solutions LLC raised its stake in shares of Adobe by 2.5% in the second quarter. Focus Partners Advisor Solutions LLC now owns 8,618 shares of the software company’s stock worth $3,334,000 after purchasing an additional 207 shares during the last quarter. Fielder Capital Group LLC purchased a new stake in shares of Adobe in the second quarter worth approximately $202,000. Leelyn Smith LLC raised its stake in shares of Adobe by 6.2% in the second quarter. Leelyn Smith LLC now owns 11,064 shares of the software company’s stock worth $4,280,000 after purchasing an additional 650 shares during the last quarter. Finally, Hobart Private Capital LLC raised its stake in shares of Adobe by 137.1% in the second quarter. Hobart Private Capital LLC now owns 2,760 shares of the software company’s stock worth $1,068,000 after purchasing an additional 1,596 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $353.52 on Friday. 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 fifty day simple moving average of $351.71 and a two-hundred day simple moving average of $368.72. Adobe Inc. has a 1 year low of $327.50 and a 1 year high of $557.90. The company has a market capitalization of $147.98 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its 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 return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 earnings per share. The business’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, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several analyst reports. Redburn Atlantic downgraded Adobe from a “hold” rating to a “strong sell” rating and lowered their price objective for the stock from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Melius downgraded 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. DA Davidson reaffirmed a “buy” rating and set a $500.00 price target on shares of Adobe in a research report on Friday, September 12th. Morgan Stanley downgraded Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research report on Wednesday, September 24th. Finally, UBS Group decreased their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.