Adobe Inc. $ADBE Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,307 shares of the software company’s stock after selling 13,291 shares during the period. King Luther Capital Management Corp’s holdings in Adobe were worth $26,227,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Adobe in the second quarter worth about $8,437,821,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Adobe by 9.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company’s stock valued at $1,651,066,000 after acquiring an additional 563,772 shares during the period. Amundi increased its holdings in Adobe by 1.1% in the 1st quarter. Amundi now owns 4,724,102 shares of the software company’s stock worth $1,148,335,000 after acquiring an additional 53,424 shares in the last quarter. Primecap Management Co. CA purchased a new stake in Adobe in the 2nd quarter worth approximately $1,071,668,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adobe by 0.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,045,547 shares of the software company’s stock worth $1,034,438,000 after acquiring an additional 18,995 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.4%

Shares of ADBE opened at $237.60 on Thursday. The business’s 50 day moving average is $248.07 and its 200 day moving average is $248.70. The company has a market capitalization of $92.47 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $362.71. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.05. Adobe had a return on equity of 65.65% and a net margin of 28.05%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.69 billion. During the same period in the prior year, the company posted $5.31 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Research analysts expect that Adobe Inc. will post 20.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADBE shares. Evercore set a $250.00 price target on shares of Adobe in a report on Friday, September 11th. Morgan Stanley reiterated an “underweight” rating on shares of Adobe in a research report on Friday, September 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $315.00 price objective on shares of Adobe in a research note on Wednesday. Wells Fargo & Company cut shares of Adobe from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $270.00 to $225.00 in a research note on Monday, October 12th. Finally, HSBC downgraded shares of Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $310.00 to $267.00 in a research report on Tuesday, October 13th. Nine research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and a consensus price target of $282.52.

Key Stories Impacting Adobe

These are some of the ADBE stories that stood out recently:

• Positive Sentiment: At Adobe MAX, the company announced AI assistants and agentic features across Creative Cloud and Firefly, including tools for image and video workflows. These features could strengthen Adobe’s products and help it capture demand for AI-enabled creative software, though commercial impact will depend on customer adoption. Article: Adobe adds AI assistants and generative tools across Creative Cloud
• Positive Sentiment: Adobe and Google expanded their partnership: Acrobat will be accessible through Google Workspace, while Google AI models will be incorporated into Adobe products. Wider distribution and integrated workflows could improve product reach and utility. Article: Adobe and Google deepen partnership
• Positive Sentiment: Investor Michael Burry reportedly increased his Adobe position, a signal of confidence in the stock’s value prospects. Article: Michael Burry’s portfolio

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 74,500 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the completion of the transaction, the chief executive officer owned 289,224 shares in the company, valued at approximately $72,757,189.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Adobe Profile

Adobe Inc. develops software and services for creating, managing and delivering digital content. Its products serve creative professionals, businesses, marketers and individual users around the world. Adobe’s Digital Media offerings include Creative Cloud applications such as Photoshop, Illustrator, Premiere Pro and InDesign, along with Acrobat tools for creating, editing and signing PDF documents. The company also provides generative AI capabilities through Adobe Firefly and related features in its creative products.