Adobe Inc. $ADBE Shares Sold by Legacy Private Trust Co.

Key Points

• Legacy Private Trust Co. reduced its holdings in Adobe Inc. by 25.6% during the second quarter, holding 5,488 shares valued at $2,123,000 after selling 1,893 shares.
• Adobe reported earnings of $5.31 per share, exceeding analysts' predictions and showcasing a 10.7% year-over-year revenue growth to $5.99 billion for the recent quarter.
• Wall Street analysts have mixed views on Adobe's stock, with two Strong Buy ratings, fifteen Buy ratings, and an average target price of $435.63.

Legacy Private Trust Co. lowered its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,488 shares of the software company's stock after selling 1,893 shares during the quarter. Legacy Private Trust Co.'s holdings in Adobe were worth $2,123,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADBE. Gallacher Capital Management LLC increased its holdings in shares of Adobe by 17.0% in the second quarter. Gallacher Capital Management LLC now owns 702 shares of the software company's stock valued at $272,000 after purchasing an additional 102 shares during the period. Investors Research Corp boosted its position in Adobe by 3.4% in the second quarter. Investors Research Corp now owns 1,504 shares of the software company's stock valued at $582,000 after buying an additional 50 shares during the last quarter. Teamwork Financial Advisors LLC increased its holdings in Adobe by 12.8% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 6,267 shares of the software company's stock worth $2,425,000 after buying an additional 711 shares during the period. Capital Asset Advisory Services LLC raised its position in Adobe by 2.3% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 2,821 shares of the software company's stock worth $1,106,000 after buying an additional 64 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its position in Adobe by 31.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 2,063 shares of the software company's stock worth $798,000 after buying an additional 494 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.3%

Shares of NASDAQ:ADBE opened at $349.36 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm's 50 day moving average price is $357.32 and its 200 day moving average price is $378.97. The stock has a market cap of $148.20 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $4.65 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADBE. TD Cowen cut their price objective on shares of Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a research note on Friday. Barclays increased their target price on shares of Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday. Wall Street Zen raised shares of Adobe from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Robert W. Baird increased their target price on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Finally, Mizuho cut their price objective on shares of Adobe from $530.00 to $460.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and an average target price of $435.63.

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.

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