Midwest Trust Co Invests $24.33 Million in Adobe Inc. $ADBE

Midwest Trust Co purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 62,896 shares of the software company’s stock, valued at approximately $24,333,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in shares of Adobe in the 1st quarter worth $25,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the first quarter valued at about $29,000. HHM Wealth Advisors LLC purchased a new stake in Adobe in the first quarter worth about $30,000. Nexus Investment Management ULC bought a new position in Adobe during the 2nd quarter worth about $31,000. Finally, Barnes Dennig Private Wealth Management LLC grew its holdings in Adobe by 44.9% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Adobe Stock Down 0.1%

Adobe stock opened at $326.95 on Friday. Adobe Inc. has a 1-year low of $323.03 and a 1-year high of $557.90. The business has a fifty day moving average price of $348.22 and a 200-day moving average price of $368.22. 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 stock has a market capitalization of $136.86 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $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. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADBE shares. TD Cowen lowered their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Redburn Partners set a $280.00 price objective on shares of Adobe in a research note on Monday, September 1st. Cowen reaffirmed a “hold” rating on shares of Adobe in a research report on Wednesday, October 29th. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a report on Tuesday, September 9th. Finally, UBS Group decreased their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus 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.