Essex Savings Bank Increases Holdings in Adobe Inc. $ADBE

Key Points

• Essex Savings Bank increased its stake in Adobe Inc. by 30.5% during Q2, owning a total of 5,350 shares valued at approximately $2.07 million.
• Institutional investors currently own 81.79% of Adobe's stock, indicating strong institutional interest in the company.
• Adobe recently reported $5.31 EPS for the quarter, exceeding analysts' estimates, with revenue up 10.7% year-over-year.

Essex Savings Bank boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,350 shares of the software company's stock after purchasing an additional 1,250 shares during the period. Essex Savings Bank's holdings in Adobe were worth $2,070,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADBE. Orin Green Financial LLC increased its stake in shares of Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after purchasing an additional 23 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its holdings in shares of Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after acquiring an additional 25 shares during the last quarter. GS Investments Inc. increased its position in shares of Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock valued at $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co increased its position in shares of Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company's stock valued at $525,000 after purchasing an additional 26 shares during the last quarter. Finally, Lifeworks Advisors LLC increased its position in shares of Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company's stock valued at $301,000 after purchasing an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADBE shares. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday, September 12th. Oppenheimer cut their price objective on Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 9th. Robert W. Baird upped their price objective on Adobe from $410.00 to $425.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Phillip Securities raised Adobe from a "moderate sell" rating to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Bank of America increased their price target on Adobe from $424.00 to $475.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. One research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $435.63.

Adobe Stock Performance

Adobe stock traded down $0.06 during midday trading on Tuesday, hitting $364.02. 1,491,817 shares of the company were exchanged, compared to its average volume of 3,946,436. The firm has a market capitalization of $154.42 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.64 and a beta of 1.48. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The business has a fifty day simple moving average of $355.82 and a two-hundred day simple moving average of $375.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.99 and a current ratio of 1.02.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.Adobe's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.