Adobe Inc. $ADBE Stock Sold by Central Bank & Trust Co.

Central Bank & Trust Co. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 25.9% during the 3rd quarter, Holdings Channel reports. The firm owned 7,604 shares of the software company’s stock after selling 2,664 shares during the period. Central Bank & Trust Co.’s holdings in Adobe were worth $1,825,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Adobe in the second quarter worth $8,437,821,000. Primecap Management Co. CA bought a new position in shares of Adobe in the second quarter valued at approximately $1,071,668,000. Bank of New York Mellon Corp acquired a new stake in Adobe during the second quarter valued at approximately $954,468,000. Deutsche Bank AG purchased a new stake in Adobe during the second quarter valued at about $750,203,000. Finally, Legal & General Group Plc purchased a new stake in Adobe in the 2nd quarter worth about $653,307,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 50,500 shares of the firm’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $249.57, for a total value of $12,603,285.00. Following the transaction, the chief executive officer directly owned 238,724 shares of the company’s stock, valued at approximately $59,578,348.68. This trade represents a 17.46% 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, CAO Jillian Forusz sold 416 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at approximately $1,010,797.92. This trade represents a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 125,416 shares of company stock worth $31,454,466. Corporate insiders own 0.20% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Technical buying and valuation support are helping Adobe recover from its recent weakness. The stock trades near its 200-day moving average and at a relatively low valuation, with a reported price-to-earnings ratio of 13.57 and price-to-earnings-growth ratio of 0.81. What’s Going On With Adobe Stock Thursday?
• Positive Sentiment: Adobe’s partnership with the National Hockey League as its official Creative, Marketing and AI Partner could expand visibility for its marketing, customer-experience and Firefly AI products. The deal provides exposure to more than 200 million global fans. Adobe Joins the NHL
• Positive Sentiment: Investors continue to point to Adobe’s profitability, cash generation and double-digit revenue growth as defenses against AI-related disruption. Recent earnings exceeded analyst expectations, while management’s fiscal-year guidance remains supportive of continued earnings growth. Adobe: Are Strong Fundamentals Enough to Overcome AI Fears?

Adobe Stock Up 0.4%

Shares of ADBE traded up $0.85 during trading hours on Friday, hitting $241.90. The stock had a trading volume of 1,400,588 shares, compared to its average volume of 5,730,409. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $258.36 and a 200-day simple moving average of $242.88. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $363.70. The firm has a market capitalization of $94.15 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.81 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.05. The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.69 billion. Adobe had a return on equity of 65.65% and a net margin of 28.05%.The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.31 earnings per share. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Sell-side analysts predict that Adobe Inc. will post 20.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADBE. BMO Capital Markets boosted their price target on Adobe from $230.00 to $270.00 and gave the company a “market perform” rating in a research note on Friday, September 11th. Mizuho set a $260.00 price target on shares of Adobe in a report on Tuesday, September 8th. Piper Sandler upped their price objective on Adobe from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, September 11th. Phillip Securities cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Jefferies Financial Group lowered their price objective on Adobe from $285.00 to $275.00 and set a “hold” rating on the stock in a research report on Friday, September 11th. Seven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $282.68.

Adobe Company Profile

Adobe Inc (NASDAQ: ADBE) is a global software company that develops tools for creating, managing, delivering and analyzing digital content. Its products serve creative professionals, marketers, enterprises, students and individual consumers across a broad range of industries and geographies.

Adobe’s Creative Cloud portfolio includes applications such as Photoshop, Illustrator, Premiere Pro, InDesign and Adobe Express for graphic design, photography, video, illustration and digital content creation.