QRG Capital Management Inc. Sells 12,921 Shares of Adobe Inc. $ADBE

QRG Capital Management Inc. decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,471 shares of the software company’s stock after selling 12,921 shares during the quarter. QRG Capital Management Inc.’s holdings in Adobe were worth $21,331,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADBE. Norges Bank bought a new stake in Adobe during the second quarter valued at $2,029,950,000. Invesco Ltd. boosted its position in shares of Adobe by 16.1% during the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock valued at $1,705,043,000 after purchasing an additional 610,215 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Adobe by 17.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock worth $1,417,587,000 after purchasing an additional 548,903 shares during the period. Assenagon Asset Management S.A. increased its holdings in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Adobe by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,922,630 shares of the software company’s stock worth $1,130,707,000 after buying an additional 24,333 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $430.00 target price on shares of Adobe in a research report on Thursday, December 11th. Jefferies Financial Group downgraded Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $500.00 to $400.00 in a report on Monday, January 5th. Robert W. Baird set a $350.00 price target on shares of Adobe in a research report on Wednesday. BMO Capital Markets lowered shares of Adobe from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $400.00 to $375.00 in a research note on Friday, January 9th. Finally, Oppenheimer lowered shares of Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $402.85.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’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 transaction of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Performance

Shares of Adobe stock opened at $296.12 on Friday. The firm has a market capitalization of $123.96 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.20 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. The business’s fifty day simple moving average is $334.75 and its 200 day simple moving average is $347.48. Adobe Inc. has a 12 month low of $295.42 and a 12 month high of $465.70.

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

Adobe 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.