Trust Co. of Vermont Buys Shares of 9,162 Adobe Inc. $ADBE

Trust Co. of Vermont purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 9,162 shares of the software company’s stock, valued at approximately $1,878,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Western Pacific Wealth Management LP purchased a new position in shares of Adobe during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Adobe during the third quarter worth approximately $26,000. TrustBank purchased a new stake in Adobe in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Adobe in the 4th quarter worth approximately $31,000. Finally, Sankala Group LLC acquired a new position in Adobe in the 4th quarter valued at $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 3.8%

Shares of NASDAQ ADBE opened at $254.04 on Tuesday. The stock has a market capitalization of $100.98 billion, a PE ratio of 14.53, a P/E/G ratio of 0.89 and a beta of 1.40. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $228.82 and a 200-day moving average of $245.32. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the company posted $5.06 EPS. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Jillian Forusz sold 416 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the sale, the chief accounting officer owned 3,824 shares in the company, valued at approximately $1,010,797.92. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the acquisition, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ADBE shares. Evercore set a $225.00 price target on Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. KeyCorp lowered their price objective on Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, June 12th. Barclays dropped their target price on Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, June 12th. Piper Sandler reduced their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Finally, Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $269.81.

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.