Weatherly Asset Management L. P. Reduces Stake in Adobe Inc. $ADBE

Weatherly Asset Management L. P. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,381 shares of the software company’s stock after selling 1,685 shares during the period. Adobe accounts for 0.7% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 28th biggest holding. Weatherly Asset Management L. P.’s holdings in Adobe were worth $8,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Schmidt P J Investment Management Inc. increased its position in Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the last quarter. Rise Advisors LLC raised its stake in Adobe by 7.0% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after acquiring an additional 27 shares during the period. FSM Wealth Advisors LLC lifted its holdings in Adobe by 1.1% during the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after purchasing an additional 30 shares during the last quarter. Intellus Advisors LLC boosted its position in Adobe by 1.6% during the second quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after purchasing an additional 30 shares during the period. Finally, Capital Advisory Group Advisory Services LLC increased its stake in shares of Adobe by 2.2% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 1,442 shares of the software company’s stock worth $558,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADBE shares. TD Cowen dropped their price target on shares of Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Wolfe Research dropped their target price on Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. DA Davidson reiterated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Thursday, December 11th. Barclays reiterated an “overweight” rating and set a $415.00 price objective on shares of Adobe in a research note on Friday, December 5th. Finally, Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $417.93.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred 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 transaction, the chief accounting officer directly 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 SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Adobe Stock Up 0.2%

ADBE opened at $353.80 on Friday. The business’s fifty day simple moving average is $338.76 and its 200 day simple moving average is $353.73. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $465.70. 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 stock has a market cap of $148.10 billion, a PE ratio of 21.17, a P/E/G ratio of 1.39 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $0.10. The firm had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.81 earnings per share. 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, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.