Trust Co of Kansas Grows Stake in Adobe Inc. $ADBE

Key Points

• Trust Co of Kansas increased its stake in Adobe Inc. by 27.0%, now holding 18,660 shares worth approximately $7.2 million, making it the company's 10th largest position.
• Institutional investors own 81.79% of Adobe's stock, with several hedge funds acquiring new positions valued under $35,000 during the first quarter of the year.
• Adobe's latest earnings report showed EPS of $5.31, exceeding analysts' estimates, and the company has set a fiscal year 2025 EPS guidance of 20.800-20.850.

Trust Co of Kansas boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 27.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,660 shares of the software company's stock after acquiring an additional 3,968 shares during the quarter. Adobe accounts for approximately 3.4% of Trust Co of Kansas' holdings, making the stock its 10th largest position. Trust Co of Kansas' holdings in Adobe were worth $7,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. 1248 Management LLC bought a new position in shares of Adobe during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the 1st quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe during the 1st quarter valued at $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe during the 1st quarter valued at $30,000. Finally, Garde Capital Inc. bought a new position in shares of Adobe during the 1st quarter valued at $34,000. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADBE shares. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Friday, September 12th. DA Davidson reaffirmed a "buy" rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Citigroup decreased their target price on Adobe from $450.00 to $400.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Evercore ISI decreased their target price on Adobe from $475.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Finally, Royal Bank Of Canada decreased their target price on Adobe from $480.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $433.41.

Adobe Trading Down 2.6%

Shares of ADBE stock opened at $343.72 on Thursday. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $143.88 billion, a PE ratio of 21.42, a PEG ratio of 1.58 and a beta of 1.49. The stock has a fifty day simple moving average of $354.11 and a two-hundred day simple moving average of $373.01.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the business posted $4.65 EPS. Adobe's revenue for the quarter 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, analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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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