Canandaigua National Bank & Trust Co. Buys 3,975 Shares of Adobe Inc. $ADBE

Canandaigua National Bank & Trust Co. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 46.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,557 shares of the software company’s stock after acquiring an additional 3,975 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Adobe were worth $4,429,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after buying an additional 126,688 shares during the last quarter. Norges Bank bought a new position in Adobe in the 2nd quarter worth $2,029,950,000. Amundi lifted its position in Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the last quarter. Invesco Ltd. boosted its holdings in Adobe by 16.1% during the second quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock valued at $1,705,043,000 after acquiring an additional 610,215 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Adobe by 17.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock valued at $1,417,587,000 after purchasing an additional 548,903 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADBE. Mizuho cut their price objective on Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Stifel Nicolaus cut their price target on Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. Jefferies Financial Group reduced their price objective on Adobe from $590.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Wells Fargo & Company dropped their target price on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Finally, Wolfe Research cut their target price on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $417.15.

Adobe Trading Down 0.9%

Shares of ADBE stock opened at $347.89 on Wednesday. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $465.86. The stock has a market cap of $145.63 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 1.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00. The firm has a fifty day moving average of $336.08 and a 200-day moving average of $356.19.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, beating the consensus estimate of $5.40 by $0.10. The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.