Grove Bank & Trust Purchases 1,299 Shares of Adobe Inc. $ADBE

Key Points

• Grove Bank & Trust increased its stake in Adobe Inc. by 17.1%, owning a total of 8,895 shares valued at approximately $3,441,000 as of its latest SEC filing.
• Adobe reported earnings per share of $5.31 for the last quarter, exceeding analyst expectations, with revenues up 10.7% year-over-year.
• Analyst ratings for Adobe vary, with one strong buy, fifteen buys, and three sell ratings, highlighting a generally positive but cautious outlook for the stock.

Grove Bank & Trust boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,895 shares of the software company's stock after purchasing an additional 1,299 shares during the period. Grove Bank & Trust's holdings in Adobe were worth $3,441,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. RB Capital Management LLC raised its position in Adobe by 0.4% during the fourth quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after purchasing an additional 22 shares in the last quarter. Orin Green Financial LLC raised its position in Adobe by 3.8% during the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company's stock valued at $276,000 after purchasing an additional 23 shares in the last quarter. Schmidt P J Investment Management Inc. raised its position in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company's stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. GS Investments Inc. raised its position in Adobe by 0.3% during the first 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 in the last quarter. Finally, Ted Buchan & Co raised its position in Adobe by 1.9% during the first 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 in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 0.5%

NASDAQ:ADBE traded down $1.82 during mid-day trading on Monday, reaching $364.08. 4,704,525 shares of the company's stock traded hands, compared to its average volume of 5,210,053. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The firm has a market capitalization of $154.44 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.64 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.99. The company has a 50 day moving average price of $355.82 and a 200-day moving average price of $375.39.

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, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the business earned $4.65 EPS. Adobe's revenue was up 10.7% compared to the same quarter last year. 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 predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADBE shares. Redburn Atlantic downgraded Adobe from a "hold" rating to a "strong sell" rating and lowered their price target for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. DA Davidson reiterated a "buy" rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Mizuho decreased their price objective on Adobe from $530.00 to $460.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. BMO Capital Markets decreased their price objective on Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Finally, TD Cowen decreased their price objective on Adobe from $470.00 to $420.00 and set a "hold" rating on the stock in a report on Friday, September 12th. 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.