Canandaigua National Trust Co of Florida Purchases 2,550 Shares of Adobe Inc. $ADBE

Canandaigua National Trust Co of Florida grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 135.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,430 shares of the software company’s stock after buying an additional 2,550 shares during the period. Adobe accounts for 1.2% of Canandaigua National Trust Co of Florida’s portfolio, making the stock its 17th largest position. Canandaigua National Trust Co of Florida’s holdings in Adobe were worth $1,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Lathrop Investment Management Co. increased its position in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares during the period. Mcdaniel Terry & Co. boosted its stake in shares of Adobe by 2.8% during the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares in the last quarter. Jackson Thornton Wealth Management LLC purchased a new position in Adobe during the second quarter valued at approximately $328,000. Bourgeon Capital Management LLC raised its stake in Adobe by 41.0% in the second quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock worth $9,548,000 after buying an additional 7,176 shares in the last quarter. Finally, World Investment Advisors raised its stake in Adobe by 8.0% in the second quarter. World Investment Advisors now owns 24,197 shares of the software company’s stock worth $9,361,000 after buying an additional 1,794 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADBE shares. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Citigroup reduced their target price on shares of Adobe from $400.00 to $366.00 and set a “neutral” rating for the company in a report on Thursday, December 4th. Redburn Partners set a $280.00 price target on shares of Adobe in a research report on Monday, September 1st. Jefferies Financial Group cut their price objective on shares of Adobe from $590.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, UBS Group set a $487.00 price objective on shares of Adobe in a research note on Sunday. One investment 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $417.15.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Adobe Price Performance

NASDAQ ADBE opened at $347.89 on Wednesday. The stock’s fifty day moving average price is $336.08 and its 200 day moving average price is $356.19. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $465.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.02. The company has a market cap of $145.63 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.38 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last posted its quarterly 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. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.11 billion. During the same quarter in the previous year, the business earned $4.81 EPS. The company’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. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.