Canandaigua National Trust Co of Florida Raises Position in Adobe Inc. $ADBE

Canandaigua National Trust Co of Florida lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 135.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,430 shares of the software company’s stock after purchasing an additional 2,550 shares during the period. Adobe accounts for approximately 1.2% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 17th largest position. Canandaigua National Trust Co of Florida’s holdings in Adobe were worth $1,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Schmidt P J Investment Management Inc. increased its position in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares in the last quarter. VanderPol Investments L.L.C. grew its stake in shares of Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock valued at $209,000 after acquiring an additional 27 shares during the period. Rise Advisors LLC raised its stake in Adobe by 7.0% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock worth $157,000 after acquiring an additional 27 shares during the period. FSM Wealth Advisors LLC lifted its holdings in Adobe by 1.1% during the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after purchasing an additional 30 shares in the last quarter. Finally, Intellus Advisors LLC boosted its position in shares of Adobe by 1.6% in the second quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after purchasing an additional 30 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $430.00 target price on shares of Adobe in a research note on Thursday, December 11th. Piper Sandler lowered their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Sunday. BMO Capital Markets decreased their target price on Adobe from $405.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company cut their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and an average target price of $417.15.

Adobe Trading Down 0.9%

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

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

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’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 transaction of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

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.