Glenview Trust co Raises Holdings in Adobe Inc. $ADBE

Key Points

• Glenview Trust Co. increased its holdings in Adobe Inc. by 13.2% in the first quarter, owning a total of 38,925 shares valued at approximately $14.9 million.
• Several institutional investors, including PFG Advisors and Krane Funds Advisors LLC, have also boosted their stakes in Adobe, with a collective ownership of 81.79% of the company's stock by hedge funds and institutions.
• Adobe's latest earnings report shows a 10.6% revenue increase year-over-year, with earnings per share of $5.06, surpassing analyst expectations.

Glenview Trust co raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,925 shares of the software company's stock after buying an additional 4,532 shares during the period. Glenview Trust co's holdings in Adobe were worth $14,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. RB Capital Management LLC boosted its position in shares of Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock worth $2,198,000 after buying an additional 22 shares during the period. Orin Green Financial LLC boosted its position in shares of Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock worth $276,000 after buying an additional 23 shares during the period. Second Line Capital LLC boosted its position in shares of Adobe by 3.5% during the fourth quarter. Second Line Capital LLC now owns 768 shares of the software company's stock worth $342,000 after buying an additional 26 shares during the period. Vista Investment Management boosted its position in shares of Adobe by 3.1% during the fourth quarter. Vista Investment Management now owns 875 shares of the software company's stock worth $389,000 after buying an additional 26 shares during the period. Finally, GS Investments Inc. boosted its position in shares of Adobe by 0.3% during the first quarter. GS Investments Inc. now owns 7,563 shares of the software company's stock worth $2,901,000 after buying an additional 26 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ:ADBE traded down $1.51 during mid-day trading on Monday, reaching $347.86. 4,269,805 shares of the stock were exchanged, compared to its average volume of 3,884,921. The company has a 50 day simple moving average of $357.32 and a 200-day simple moving average of $378.97. The stock has a market capitalization of $147.56 billion, a P/E ratio of 21.67, a P/E/G ratio of 1.65 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business 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. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Barclays boosted their target price on Adobe from $460.00 to $465.00 and gave the stock an "overweight" rating in a research note on Friday. Oppenheimer lowered their target price on Adobe from $500.00 to $460.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Robert W. Baird boosted their target price on Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $470.00 target price (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target 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.