Canandaigua National Bank & Trust Co. Buys 1,209 Shares of Adobe Inc. $ADBE

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in Adobe Inc. by 16.4%, acquiring 1,209 additional shares and bringing its total ownership to 8,582 shares valued at $3.32 million.
• Adobe reported a strong quarterly earnings result, with $5.31 EPS surpassing expectations, and revenue of $5.99 billion, marking a year-over-year growth of 10.7%.
• The current consensus rating for Adobe shares is Moderate Buy, with a consensus price target of $435.63 amid mixed analyst opinions on stock valuation.

Canandaigua National Bank & Trust Co. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,582 shares of the software company's stock after buying an additional 1,209 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Adobe were worth $3,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. NBC Securities Inc. increased its holdings in shares of Adobe by 17.6% in the 2nd quarter. NBC Securities Inc. now owns 7,164 shares of the software company's stock worth $2,771,000 after buying an additional 1,072 shares during the last quarter. Boltwood Capital Management increased its holdings in shares of Adobe by 2.0% in the 2nd quarter. Boltwood Capital Management now owns 1,906 shares of the software company's stock worth $737,000 after buying an additional 38 shares during the last quarter. Gallacher Capital Management LLC increased its holdings in shares of Adobe by 17.0% in the 2nd quarter. Gallacher Capital Management LLC now owns 702 shares of the software company's stock worth $272,000 after buying an additional 102 shares during the last quarter. Investors Research Corp increased its holdings in shares of Adobe by 3.4% in the 2nd quarter. Investors Research Corp now owns 1,504 shares of the software company's stock worth $582,000 after buying an additional 50 shares during the last quarter. Finally, Teamwork Financial Advisors LLC boosted its stake in shares of Adobe by 12.8% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 6,267 shares of the software company's stock valued at $2,425,000 after purchasing an additional 711 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of Adobe stock opened at $349.36 on Monday. The firm has a market cap of $148.20 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.65 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. The company's fifty day simple moving average is $357.32 and its two-hundred day simple moving average is $378.97.

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, topping analysts' consensus estimates of $5.18 by $0.13. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 EPS. 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 expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADBE shares. Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 price objective for the company. in a research note on Wednesday, July 2nd. DA Davidson reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Adobe in a research note on Friday. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a "neutral" rating for the company in a research note on Thursday. Barclays upped their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an "overweight" rating in a research note on Friday. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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