Peoples Bank KS Raises Stock Holdings in Adobe Inc. $ADBE

Key Points

• Peoples Bank KS increased its stake in Adobe Inc. by 60.6%, owning 1,942 shares worth approximately $751,000.
• Adobe's recent earnings report showed an EPS of $5.31, surpassing estimates, with revenue of $5.99 billion, a 10.7% increase year-over-year.
• A majority of institutional investors now hold 81.79% of Adobe's shares, reflecting significant investment interest in the company.

Peoples Bank KS boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 60.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,942 shares of the software company's stock after buying an additional 733 shares during the quarter. Peoples Bank KS's holdings in Adobe were worth $751,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADBE shares. BMO Capital Markets reduced their target price on Adobe from $450.00 to $405.00 and set an "outperform" rating for the company in a report on Friday, September 12th. Royal Bank Of Canada dropped their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating for the company in a research report on Monday, September 8th. TD Cowen dropped their target price on Adobe from $470.00 to $420.00 and set a "hold" rating for the company in a research report on Friday, September 12th. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and lowered their price objective for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus target price of $435.63.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $1.82 during trading on Monday, hitting $364.08. 4,704,525 shares of the company's stock were exchanged, compared to its average volume of 5,210,053. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The business's 50-day simple moving average is $355.82 and its 200 day simple moving average is $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 (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The company'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. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.