Adobe Inc. $ADBE Shares Acquired by Narwhal Capital Management

Narwhal Capital Management grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 78.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,934 shares of the software company’s stock after buying an additional 3,925 shares during the quarter. Narwhal Capital Management’s holdings in Adobe were worth $3,151,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CX Institutional raised its holdings in Adobe by 72.9% during the third quarter. CX Institutional now owns 27,922 shares of the software company’s stock worth $9,849,000 after purchasing an additional 11,769 shares during the last quarter. Lathrop Investment Management Co. lifted its holdings in shares of Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares in the last quarter. Mcdaniel Terry & Co. grew its position in shares of Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares during the last quarter. SteelPeak Wealth LLC increased its stake in shares of Adobe by 16.1% during the 3rd quarter. SteelPeak Wealth LLC now owns 29,055 shares of the software company’s stock worth $10,249,000 after purchasing an additional 4,021 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new position in shares of Adobe during the 2nd quarter worth approximately $328,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Bullish investor write-up arguing Adobe is an undervalued, long-term compounder and urging accumulation based on its AI/product roadmap. Adobe: I’m Pounding The Table On This Unloved Compounder (Rating Upgrade)
• Positive Sentiment: Adobe expanded its AI capabilities via a multi‑year partnership with Runway to enhance Firefly video tools, supporting product differentiation and monetization of generative AI features. Adobe (ADBE) Partners With Runway to Expand Firefly AI Video Tools
• Positive Sentiment: Adobe exec coverage from CES highlights strategy on personalization and multi‑model AI integrations (Runway, 11 Labs), reinforcing the company’s roadmap to capture creative and marketing spend. Beyond Firefly: Adobe VP Allison Blais Discusses Integrating Runway, 11 Labs and the Future of Multi-Model AI
• Neutral Sentiment: Review of short‑term performance shows the stock has underperformed since the last earnings report; the piece outlines catalysts and risks that could move the stock next. Why Is Adobe (ADBE) Down 3.3% Since Last Earnings Report?
• Neutral Sentiment: Roundup of Wall Street research calls listing Adobe among top analyst actions for the day — informational context for market flow but not a single decisive call. Here Are Friday’s Top Wall Street Analyst Research Calls: Adobe, Airbnb, Altria, Crowdstrike…
• Negative Sentiment: BMO Capital Markets downgraded ADBE to Market Perform (from Outperform), citing rising competitive pressures — a near‑term catalyst for the share decline and reduced upside expectations. Adobe Stock Falls. Shares ‘Will Remain Range-Bound’ As Competition Heats Up, Analyst Says.
• Negative Sentiment: Commentary arguing Adobe’s competitive moat looks less secure as new AI entrants and specialized tools pressure pricing and share in creative/marketing workflows. Adobe’s Competitive Moat Looks Less Secure

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADBE shares. TD Cowen lowered their target price on Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Wells Fargo & Company reduced their price objective on Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Oppenheimer dropped their price objective on Adobe from $460.00 to $430.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Finally, Barclays reissued an “overweight” rating and issued a $415.00 target price on shares of Adobe in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and three have issued 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 $410.92.

Adobe Stock Performance

Adobe stock opened at $333.95 on Friday. The stock has a fifty day moving average price of $337.16 and a 200 day moving average price of $350.16. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $465.70. The firm has a market capitalization of $139.79 billion, a P/E ratio of 19.99, a PEG ratio of 1.33 and a beta of 1.53. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

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 analysts’ consensus estimates 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 analyst estimates of $6.11 billion. During the same period last year, the company earned $4.81 EPS. The firm’s quarterly 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. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.