AMG National Trust Bank Sells 592 Shares of Adobe Inc. $ADBE

AMG National Trust Bank reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 26.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,644 shares of the software company’s stock after selling 592 shares during the period. AMG National Trust Bank’s holdings in Adobe were worth $636,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Adobe during the 1st quarter valued at about $25,000. Flaharty Asset Management LLC bought a new position in Adobe during the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe during the 1st quarter valued at about $30,000. Nexus Investment Management ULC bought a new position in Adobe during the 2nd quarter valued at about $31,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Adobe by 128.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 112 shares of the software company’s stock valued at $39,000 after purchasing an additional 63 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 0.3%

ADBE opened at $340.31 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 company has a market cap of $142.45 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The firm has a 50 day simple moving average of $350.67 and a 200 day simple moving average of $368.72. Adobe Inc. has a fifty-two week low of $327.50 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several analyst reports. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $405.00 target price on shares of Adobe in a research note on Wednesday. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research note on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. Finally, Barclays set a $465.00 target price on shares of Adobe and gave the stock an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus 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.