Evercore Wealth Management LLC Has $49.31 Million Holdings in Adobe Inc. $ADBE

Evercore Wealth Management LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,873 shares of the software company’s stock after selling 7,760 shares during the period. Evercore Wealth Management LLC’s holdings in Adobe were worth $49,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Measured Wealth Private Client Group LLC acquired a new position in shares of Adobe during the third quarter valued at about $26,000. Western Pacific Wealth Management LP bought a new position in Adobe during the fourth quarter valued at about $26,000. TrustBank acquired a new position in Adobe in the 4th quarter valued at approximately $28,000. Marquette Asset Management LLC raised its holdings in Adobe by 72.3% in the 4th quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Adobe in the 4th quarter worth approximately $31,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the transaction, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.20% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $237.75 on Tuesday. The stock’s fifty day simple moving average is $226.42 and its 200 day simple moving average is $250.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $94.51 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.76 and a beta of 1.43. Adobe Inc. has a one year low of $190.12 and a one year high of $376.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $5.06 earnings per share. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts expect that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ADBE. UBS Group cut Adobe from a “buy” rating to an “equal weight” rating in a research report on Tuesday, July 21st. Dbs Bank cut Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. KeyCorp decreased their price target on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research note on Friday, June 12th. Morgan Stanley cut shares of Adobe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $365.00 to $240.00 in a research note on Tuesday, July 21st. Finally, Robert W. Baird reduced their price objective on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $271.30.

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.