VIRGINIA RETIREMENT SYSTEMS ET Al Sells 47,400 Shares of Adobe Inc. $ADBE

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 30.8% in the third quarter, Holdings Channel.com reports. The firm owned 106,314 shares of the software company’s stock after selling 47,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Adobe were worth $37,502,000 as of its most recent SEC filing.

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

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADBE. Cowen reiterated a “hold” rating on shares of Adobe in a report on Monday, December 8th. Piper Sandler reduced their price objective on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research report on Friday, September 12th. BMO Capital Markets decreased their price objective on shares of Adobe from $405.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Wolfe Research dropped their target price on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Hold” and a consensus price target of $417.93.

Adobe Stock Down 0.2%

ADBE opened at $352.39 on Wednesday. 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 $147.51 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.39 and a beta of 1.54. Adobe Inc. has a twelve month low of $311.58 and a twelve month high of $465.70. The company’s 50-day moving average price is $338.85 and its two-hundred day moving average price is $352.17.

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 company had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. Adobe’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.81 EPS. 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, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.