Comerica Bank Lowers Stock Holdings in Adobe Inc. $ADBE

Key Points

• Comerica Bank reduced its stake in Adobe Inc. by 10.5%, selling 12,510 shares, and now holds 107,008 shares worth approximately $41 million.
• Several institutional investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., significantly increased their holdings in Adobe, with GAMMA's position rising by over 46,000%.
• Adobe's stock is currently valued at $362.09 and experienced a 2.5% increase, while the company reported earnings of $5.06 per share, surpassing analysts' expectations.

Comerica Bank cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,008 shares of the software company's stock after selling 12,510 shares during the period. Comerica Bank's holdings in Adobe were worth $41,040,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH grew its holdings in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe during the first quarter valued at $26,000. SWAN Capital LLC bought a new position in Adobe during the fourth quarter valued at $28,000. Copia Wealth Management bought a new position in Adobe during the fourth quarter valued at $28,000. Finally, HHM Wealth Advisors LLC bought a new position in Adobe during the first quarter valued at $30,000. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

Shares of ADBE stock traded up $1.44 on Wednesday, reaching $356.35. The company's stock had a trading volume of 2,351,841 shares, compared to its average volume of 3,758,295. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $587.75. The company has a market capitalization of $151.16 billion, a P/E ratio of 22.80, a PEG ratio of 1.72 and a beta of 1.51. The stock's 50 day simple moving average is $365.25 and its 200-day simple moving average is $388.59.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%.The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the business posted $4.48 earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. Adobe has set its Q3 2025 guidance at 5.150-5.200 EPS. FY 2025 guidance at 20.500-20.700 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research reports. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a report on Monday, June 16th. Royal Bank Of Canada reissued an "outperform" rating and set a $480.00 price objective on shares of Adobe in a report on Thursday, June 5th. Stifel Nicolaus reduced their price objective on Adobe from $525.00 to $480.00 and set a "buy" rating for the company in a report on Friday, June 13th. Wall Street Zen downgraded Adobe from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Rothschild & Co Redburn downgraded Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Two research analysts have 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $467.58.

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.