DAVENPORT & Co LLC Sells 112,187 Shares of Adobe Inc. $ADBE

DAVENPORT & Co LLC trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 32.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,316 shares of the software company’s stock after selling 112,187 shares during the quarter. DAVENPORT & Co LLC’s holdings in Adobe were worth $82,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Pensionfund Sabic bought a new position in shares of Adobe during the fourth quarter valued at $1,995,000. JGP Wealth Management LLC acquired a new stake in shares of Adobe in the 4th quarter valued at $326,000. E. Ohman J or Asset Management AB grew its holdings in shares of Adobe by 7.3% in the 4th quarter. E. Ohman J or Asset Management AB now owns 19,323 shares of the software company’s stock worth $6,763,000 after purchasing an additional 1,309 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Adobe by 18.2% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 4,849 shares of the software company’s stock worth $1,697,000 after purchasing an additional 746 shares in the last quarter. Finally, BOS Asset Management LLC increased its position in shares of Adobe by 4.5% during the 4th quarter. BOS Asset Management LLC now owns 3,496 shares of the software company’s stock worth $1,224,000 after purchasing an additional 149 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,382,225.75. This represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Adobe Stock Down 3.5%

NASDAQ:ADBE opened at $238.87 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. Adobe Inc. has a 12-month low of $237.38 and a 12-month high of $422.95. The stock’s fifty day simple moving average is $272.21 and its 200-day simple moving average is $317.68. The firm has a market capitalization of $98.06 billion, a P/E ratio of 13.91, a P/E/G ratio of 0.97 and a beta of 1.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the company posted $5.08 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on ADBE shares. Oppenheimer restated a “market perform” rating on shares of Adobe in a research report on Friday, March 13th. Barclays cut shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $335.00 to $275.00 in a research note on Friday, March 13th. UBS Group decreased their price target on Adobe from $340.00 to $290.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Mizuho dropped their price target on Adobe from $340.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, March 13th. Finally, HSBC set a $302.00 price objective on Adobe in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $343.88.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is promoting Firefly aggressively (50% off), which could accelerate adoption and monetization of its AI creative tools—supportive for revenue and ARPU if conversion follows. Create professional designs for less with 50% off Adobe Firefly
• Positive Sentiment: Adobe expanded Firefly with custom AI models and conversational design tools—product enhancements that support differentiation vs. free/competing AI generators and could boost enterprise uptake. Adobe Expands Firefly With Custom AI Models & Conversational Design Tools
• Positive Sentiment: Fundamentals remain solid: Adobe’s Q1 revenue and EPS beat expectations and management is running a $25B buyback program financed by strong free cash flow—both support per‑share metrics over time. Adobe (ADBE) Reports Strong Earnings Despite Leadership Transition Concern
• Positive Sentiment: Zacks research pieces highlight Adobe as a strong momentum/growth stock, which may attract tactical buyers looking for AI-exposure at lower multiples. Here’s Why Adobe Systems (ADBE) is a Strong Momentum Stock
• Positive Sentiment: Social chatter notes large buyback and reports of a prominent investor taking a long position — these narratives can support a valuation floor and attract value buyers. Adobe Stock (ADBE) Opinions on Earnings and CEO Transition
• Neutral Sentiment: NeutronX hired a former Adobe enterprise architect—normal industry hiring/poaching that signals Adobe talent mobility but has limited direct impact on near‑term financials. NeutronX Appoints Former Adobe Enterprise Architect
• Neutral Sentiment: Multiple short‑interest reports in feeds show zero/share anomalies and inconsistent days‑to‑cover figures—likely data errors rather than meaningful new short pressure.
• Negative Sentiment: The announced CEO transition remains the dominant negative catalyst: investors are uncertain about succession and execution risks, which has pressured the stock despite the earnings beat. Adobe slides as investors digest CEO transition and post-earnings analyst resets
• Negative Sentiment: Analyst downgrades and price‑target cuts (e.g., Barclays to Equal Weight) after earnings and guidance resets are weighing on sentiment and reducing buy‑side conviction. Barclays Downgrades Adobe Inc. (ADBE) Stock to Equal Weight
• Negative Sentiment: Broader software‑sector weakness tied to new browser/local AI tools (e.g., Claude’s latest release) is stoking competitive fears that could pressure Adobe’s creative and stock‑assets businesses. Software is sick again today… and it’s not just because of Claude

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.