Adobe Inc. $ADBE Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 41.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,356 shares of the software company’s stock after selling 38,595 shares during the period. NewEdge Wealth LLC’s holdings in Adobe were worth $18,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. LSV Asset Management lifted its holdings in Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares in the last quarter. Horizon Financial Services LLC lifted its stake in shares of Adobe by 4,000.0% during the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Total Investment Management Inc. acquired a new stake in shares of Adobe during the second quarter worth $35,000. Howard Hughes Medical Institute purchased a new stake in shares of Adobe in the second quarter valued at $36,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Adobe in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADBE. BMO Capital Markets lowered shares of Adobe from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $400.00 to $375.00 in a report on Friday, January 9th. Wells Fargo & Company cut their target price on Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. HSBC set a $302.00 target price on Adobe in a report on Friday, February 13th. The Goldman Sachs Group began coverage on Adobe in a research note on Monday, January 12th. They set a “sell” rating and a $290.00 price target for the company. Finally, Weiss Ratings lowered shares of Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $397.16.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Adobe Trading Up 1.0%

NASDAQ ADBE opened at $263.17 on Thursday. The company’s fifty day simple moving average is $313.11 and its 200-day simple moving average is $332.89. The stock has a market cap of $108.03 billion, a P/E ratio of 15.75, a PEG ratio of 1.02 and a beta of 1.51. Adobe Inc. has a 52 week low of $251.10 and a 52 week high of $463.61. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53.

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

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.