Ritholtz Wealth Management Sells 5,462 Shares of Adobe Inc. $ADBE

Ritholtz Wealth Management cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 31.9% during the 3rd quarter, Holdings Channel reports. The firm owned 11,661 shares of the software company’s stock after selling 5,462 shares during the period. Ritholtz Wealth Management’s holdings in Adobe were worth $4,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Adobe during the 2nd quarter worth $2,029,950,000. Assenagon Asset Management S.A. grew its holdings in shares of Adobe by 308.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Adobe in the second quarter worth $318,224,000. Franklin Resources Inc. raised its stake in Adobe by 68.9% in the second quarter. Franklin Resources Inc. now owns 1,939,018 shares of the software company’s stock valued at $750,168,000 after purchasing an additional 791,077 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Adobe by 218.5% during the second quarter. Acadian Asset Management LLC now owns 1,073,899 shares of the software company’s stock worth $415,434,000 after purchasing an additional 736,682 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Mizuho decreased their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. UBS Group set a $487.00 price objective on shares of Adobe in a research note on Sunday, December 14th. The Goldman Sachs Group started coverage on Adobe in a research note on Monday, January 12th. They set a “sell” rating and a $290.00 target price for the company. TD Cowen reduced their target price on Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Finally, Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $402.85.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were 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 owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade 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 accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Adobe Trading Down 2.6%

Shares of ADBE stock opened at $296.12 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $123.96 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.20 and a beta of 1.53. Adobe Inc. has a twelve month low of $295.42 and a twelve month high of $465.70. The stock’s fifty day simple moving average is $334.75 and its 200 day simple moving average is $347.48.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results 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 return on equity of 61.28% and a net margin of 30.00%.The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the previous year, the business posted $4.81 earnings per share. The business’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, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Profile

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.