Canandaigua National Bank & Trust Co. Makes New Investment in Adobe Inc. $ADBE

Canandaigua National Bank & Trust Co. bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,233 shares of the software company’s stock, valued at approximately $1,073,000.

Other large investors have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe during the third quarter valued at about $26,000. Western Pacific Wealth Management LP purchased a new position in Adobe in the fourth quarter valued at about $26,000. TrustBank acquired a new stake in Adobe during the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Adobe during the 4th quarter worth approximately $31,000. Finally, Sankala Group LLC acquired a new position in shares of Adobe in the 4th quarter valued at approximately $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

ADBE opened at $259.32 on Thursday. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $370.86. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a market cap of $103.08 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.87 and a beta of 1.40. The business’s 50 day moving average is $227.59 and its 200-day moving average is $247.22.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts predict that Adobe Inc. will post 19.81 earnings per share for the current year.

Adobe declared that its board has approved a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. This represents a 9.81% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADBE shares. Bank of America reissued an “underperform” rating and set a $190.00 price target on shares of Adobe in a research report on Tuesday, July 7th. Jefferies Financial Group dropped their target price on shares of Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, June 12th. HSBC upgraded Adobe from a “hold” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $308.00 in a research note on Thursday, July 2nd. Wolfe Research lowered Adobe from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Adobe in a research note on Wednesday, June 3rd. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $271.30.

Adobe Company Profile

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.