Somerville Kurt F Sells 3,190 Shares of Adobe Inc. $ADBE

Somerville Kurt F reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 78.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 902 shares of the software company’s stock after selling 3,190 shares during the quarter. Somerville Kurt F’s holdings in Adobe were worth $318,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Adobe by 154.5% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 76,350 shares of the software company’s stock worth $26,932,000 after acquiring an additional 46,352 shares in the last quarter. Clear Creek Financial Management LLC grew its position in Adobe by 9.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 3,591 shares of the software company’s stock worth $1,267,000 after purchasing an additional 321 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Adobe by 16.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 770,824 shares of the software company’s stock valued at $271,471,000 after buying an additional 110,166 shares during the last quarter. Harold Davidson & Associates Inc. increased its stake in Adobe by 1.1% in the 3rd quarter. Harold Davidson & Associates Inc. now owns 4,992 shares of the software company’s stock valued at $1,761,000 after buying an additional 55 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in shares of Adobe by 16.4% in the 3rd quarter. Alberta Investment Management Corp now owns 19,200 shares of the software company’s stock worth $6,773,000 after buying an additional 2,700 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

ADBE traded up $1.48 during trading on Friday, reaching $260.69. 632,360 shares of the company were exchanged, compared to its average volume of 5,403,061. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The company has a market cap of $107.01 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.03 and a beta of 1.51. Adobe Inc. has a 12-month low of $251.10 and a 12-month high of $453.75. The company’s 50-day moving average is $311.28 and its two-hundred day moving average is $332.38.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, beating 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 firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the prior year, the business posted $4.81 earnings per share. The company’s 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. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were 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 directly owned 41,995 shares of the company’s stock, valued at $12,382,225.75. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADBE shares. Oppenheimer cut Adobe from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 13th. The Goldman Sachs Group started coverage on Adobe in a research note on Monday, January 12th. They issued a “sell” rating and a $290.00 price objective on the stock. HSBC set a $302.00 price target on Adobe in a research note on Friday, February 13th. Jefferies Financial Group cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $500.00 to $400.00 in a research note on Monday, January 5th. Finally, Morgan Stanley dropped their price objective on shares of Adobe from $450.00 to $425.00 and set an “equal weight” rating on the stock in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $397.16.

Adobe Company 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.