First National Bank of Omaha Reduces Adobe Inc. Stock Holdings

First National Bank of Omaha has reduced its investment in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.2% during the third quarter, as disclosed in the fund's latest Form 13F submitted to the Securities and Exchange Commission.

Following a sale of 964 shares during the quarter, the bank now holds a total of 10,758 shares of Adobe's stock. The value of these holdings has been reported at approximately $5,570,000 based on the most recent filings.

Changes in Institutional Holdings

Other institutional investors and hedge funds have also adjusted their positions in Adobe. Piscataqua Savings Bank significantly increased its holdings by 226.7%, acquiring an additional 34 shares to own 49 shares valued at around $25,000. Legacy Investment Solutions LLC entered the market with a new stake worth about $26,000 during the third quarter.

MidAtlantic Capital Management Inc. also purchased a new stake in Adobe valued at roughly $30,000. True Wealth Design LLC boosted its holdings by 141.7% during the same period, increasing ownership from purchasing 34 additional shares, now totaling 58 shares valued at $30,000. Furthermore, Summit Securities Group LLC established a new position in Adobe earlier with a valuation of about $33,000.

A notable statistic is that 81.79% of Adobe’s stock is held by hedge funds and institutional investors, demonstrating considerable investor interest.

Adobe's Market Performance

As of the latest trading session, shares of Adobe opened at $552.96. The company's market capitalization stands at $243.41 billion with a PE ratio of 46.70. It also has a PEG ratio of 2.45 and a beta of 1.29, indicating how its shares move compared to the overall market.

Adobe has a 50-day moving average of $504.20 and a 200-day moving average of $521.94. Over the past year, the stock's price has fluctuated between a low of $433.97 and a high of $638.25. Furthermore, the company's debt-to-equity ratio is noted at 0.28, alongside quick and current ratios both at 1.11.

Recent Earnings and Analyst Ratings

Adobe recently reported its quarterly earnings on September 12. The company's earnings per share (EPS) was $4.65, exceeding market expectations of $4.53. The firm's return on equity was impressive at 42.82%, with a net profit margin of 25.59%. Adobe's revenue during the quarter was recorded at $5.41 billion, surpassing the consensus estimate of $5.37 billion and marking a 10.6% increase from the previous year.

Analysts forecast that Adobe will achieve an EPS of 14.82 for the current fiscal year. Recent reports from various brokerages characterized the stock positively; JMP Securities reiterated a "market perform" rating, while StockNews.com upgraded it to "buy." Bank of America affirmed a "buy" rating with a $640.00 price target, while BMO Capital Markets upped their target to $600.00.

There has been a mix of ratings from analysts, with two recommending a sell, seven a hold, and seventeen supporting a buy rating, indicating strong support among analysts.

Insider Activity at Adobe

In insider news, Chief Accounting Officer Jillian Forusz sold 676 shares of Adobe on October 29, at an average price of $484.97, totaling around $327,839.72. This sale left her with approximately 2,715 shares valued at $1,316,693.55, marking a 19.94% reduction in her ownership.

Additionally, CEO Scott Belsky sold 481 shares on October 25 at an average of $483.42, amounting to $232,525.02. After this transaction, he holds around 18,128 shares valued at approximately $8,763,437.76. Over the last three months, insiders have sold a combined total of 34,187 shares amounting to $17,736,369.

About Adobe Inc.

Adobe Inc., along with its subsidiaries, operates globally as a software company across three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers various products and services that help individuals and organizations create, publish, and promote content, including a unified cloud-based document services platform known as Document Cloud.

Adobe, Investment, Shares