Marathon Capital Management Purchases Shares of 12,457 Adobe Inc. $ADBE

Marathon Capital Management acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,457 shares of the software company’s stock, valued at approximately $4,394,000.

A number of other large investors have also recently made changes to their positions in ADBE. Mangrove Partners IM LLC acquired a new position in shares of Adobe during the third quarter valued at about $827,000. iSAM Funds UK Ltd increased its position in shares of Adobe by 125.3% during the third quarter. iSAM Funds UK Ltd now owns 5,610 shares of the software company’s stock worth $1,979,000 after acquiring an additional 3,120 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of Adobe by 16.8% in the 3rd quarter. NorthRock Partners LLC now owns 6,505 shares of the software company’s stock worth $2,294,000 after acquiring an additional 938 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Adobe by 7.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 26,035 shares of the software company’s stock worth $9,179,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Zuckerman Investment Group LLC lifted its position in Adobe by 71.2% in the 3rd quarter. Zuckerman Investment Group LLC now owns 30,377 shares of the software company’s stock valued at $10,715,000 after acquiring an additional 12,636 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the sale, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADBE. Weiss Ratings downgraded Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wells Fargo & Company lowered their price objective on Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. TD Cowen dropped their target price on Adobe from $400.00 to $325.00 and set a “hold” rating on the stock in a report on Tuesday. Wolfe Research cut 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. Finally, Mizuho decreased their price target on Adobe from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $347.85.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

Adobe Trading Down 7.6%

NASDAQ:ADBE opened at $249.32 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $102.35 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53. Adobe Inc. has a 52 week low of $244.28 and a 52 week high of $422.95. The firm has a 50-day moving average price of $283.88 and a two-hundred day moving average price of $323.22.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.23%. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the firm earned $5.08 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.