Adobe Inc. $ADBE Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 78.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 582 shares of the software company’s stock after selling 2,085 shares during the period. Mechanics Financial Corp’s holdings in Adobe were worth $205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. LSV Asset Management increased its holdings in shares of Adobe by 350.0% in the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the last quarter. Nexus Investment Management ULC purchased a new position in Adobe in the 2nd quarter valued at approximately $31,000. Horizon Financial Services LLC increased its holdings in Adobe by 4,000.0% during the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Total Investment Management Inc. purchased a new position in Adobe in the second quarter worth approximately $35,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Adobe during the 3rd quarter worth about $35,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird set a $350.00 price target on shares of Adobe in a research report on Wednesday, January 14th. Wolfe Research reduced their price target on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Barclays reissued an “overweight” rating and set a $415.00 price objective on shares of Adobe in a research report on Friday, December 5th. Citigroup upped their target price on shares of Adobe from $366.00 to $387.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Finally, Oppenheimer downgraded Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $401.13.

Adobe Trading Down 0.8%

Shares of Adobe stock opened at $264.67 on Wednesday. The company has a 50-day moving average of $322.25 and a two-hundred day moving average of $336.91. Adobe Inc. has a 12-month low of $262.95 and a 12-month high of $465.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The stock has a market cap of $108.65 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.51.

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

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the sale, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.