Busey Bank Has $15.14 Million Stock Holdings in Adobe Inc. $ADBE

Key Points

• Busey Bank reduced its holdings in Adobe Inc. by 1.9%, selling 770 shares during the second quarter, leaving it with 39,134 shares valued at approximately $15.1 million.
• Institutional investors hold 81.79% of Adobe's stock, with significant movements in holdings from several funds, including a 252.9% increase by Siemens Fonds Invest GmbH.
• Latest analyst reports indicate a mixed sentiment on Adobe's stock, with target prices ranging from $280 to $525 and an average rating of 'Moderate Buy'.

Busey Bank trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,134 shares of the software company's stock after selling 770 shares during the quarter. Busey Bank's holdings in Adobe were worth $15,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Adobe by 2.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company's stock valued at $12,882,000 after acquiring an additional 756 shares in the last quarter. Cornerstone Advisory LLC increased its position in shares of Adobe by 6.5% during the fourth quarter. Cornerstone Advisory LLC now owns 705 shares of the software company's stock valued at $324,000 after acquiring an additional 43 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Adobe by 12.0% during the fourth quarter. Vise Technologies Inc. now owns 9,566 shares of the software company's stock valued at $4,254,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Breed s Hill Capital LLC purchased a new stake in Adobe during the 4th quarter valued at $519,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Down 0.3%

Shares of ADBE traded down $0.93 during trading hours on Tuesday, reaching $363.16. The company's stock had a trading volume of 1,697,335 shares, compared to its average volume of 3,947,370. The firm has a market cap of $154.05 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48. Adobe Inc. has a 1-year low of $330.04 and a 1-year 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. The company has a 50 day moving average of $355.82 and a two-hundred day moving average of $375.39.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. 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, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADBE. TD Cowen decreased 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 Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. BMO Capital Markets dropped their target price on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Citigroup dropped their target price on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Finally, Oppenheimer lowered their price target on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $435.63.

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.