Adobe Inc. $ADBE Shares Sold by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department reduced its stake in Adobe Inc. by 27.2%, selling 741 shares to hold 1,980 shares valued at $766,000.
• A variety of institutional investors have adjusted their positions in Adobe, with significant increases from PFG Advisors and Krane Funds Advisors, contributing to institutional ownership now at 81.79%.
• Analysts maintain a consensus rating of Moderate Buy for Adobe, with an average price target of $435.63, reflecting mixed sentiments among leading banks regarding the stock's future performance.

Mechanics Bank Trust Department cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 27.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,980 shares of the software company's stock after selling 741 shares during the period. Mechanics Bank Trust Department's holdings in Adobe were worth $766,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ADBE. Garde Capital Inc. bought a new stake in Adobe during the 1st quarter valued at $34,000. PFG Advisors increased its holdings in shares of Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company's stock valued at $1,904,000 after purchasing an additional 855 shares during the period. Krane Funds Advisors LLC raised its stake in shares of Adobe by 110.4% during the first quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company's stock valued at $533,000 after purchasing an additional 730 shares in the last quarter. Financial Counselors Inc. lifted its holdings in Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company's stock worth $24,105,000 after purchasing an additional 5,298 shares during the period. Finally, Koss Olinger Consulting LLC bought a new position in Adobe in the 1st quarter valued at about $305,000. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on ADBE shares. Wells Fargo & Company restated an "overweight" rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a research report on Friday, June 13th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. UBS Group cut their target price on Adobe from $400.00 to $375.00 and set a "neutral" rating for the company in a research report on Friday, September 12th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research note on Monday, June 16th. Finally, JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus price target of $435.63.

Adobe Stock Down 0.5%

ADBE stock opened at $364.08 on Tuesday. The company has a 50 day moving average of $355.82 and a two-hundred day moving average of $375.39. The company has a market cap of $154.44 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE - Get Free Report) 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. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the business posted $4.65 earnings per share. Adobe's revenue for the quarter 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. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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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