Adobe Inc. $ADBE Shares Sold by Provident Investment Management Inc.

Provident Investment Management Inc. lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 98.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 952 shares of the software company’s stock after selling 67,855 shares during the period. Provident Investment Management Inc.’s holdings in Adobe were worth $368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADBE. 1248 Management LLC purchased a new position in Adobe in the 1st quarter valued at about $25,000. LSV Asset Management lifted its stake in shares of Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after acquiring an additional 56 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Adobe in the first quarter valued at about $29,000. Nexus Investment Management ULC acquired a new stake in Adobe during the 2nd quarter valued at approximately $31,000. Finally, Horizon Financial Services LLC increased its holdings in 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 last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADBE. Redburn Partners set a $280.00 target price on Adobe in a research note on Monday, September 1st. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group dropped their target price on shares of Adobe from $590.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. DA Davidson restated a “buy” rating and issued a $500.00 target price on shares of Adobe in a research note on Thursday. Finally, Stifel Nicolaus decreased their price target on Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus target price of $413.19.

Adobe Trading Up 1.7%

NASDAQ ADBE opened at $356.43 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00. Adobe Inc. has a one year low of $311.58 and a one year high of $474.91. The company has a 50-day simple moving average of $336.07 and a 200-day simple moving average of $357.48. The firm has a market capitalization of $149.20 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.31 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The firm had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. During the same quarter in the prior year, the business earned $4.81 earnings per share. Adobe’s quarterly revenue 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. On average, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.