Adobe Inc. $ADBE Stock Holdings Lessened by Summit Global Investments

Summit Global Investments decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 61.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,613 shares of the software company’s stock after selling 4,218 shares during the period. Summit Global Investments’ holdings in Adobe were worth $627,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Cyndeo Wealth Partners LLC lifted its position in Adobe by 2.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 1,559 shares of the software company’s stock worth $374,000 after acquiring an additional 43 shares during the last quarter. Meridian Management Co. grew its position in shares of Adobe by 0.3% in the first quarter. Meridian Management Co. now owns 15,241 shares of the software company’s stock valued at $3,705,000 after purchasing an additional 44 shares during the last quarter. Brown Shipley& Co Ltd grew its position in shares of Adobe by 28.8% in the first quarter. Brown Shipley& Co Ltd now owns 197 shares of the software company’s stock valued at $48,000 after purchasing an additional 44 shares during the last quarter. United Bank grew its position in shares of Adobe by 1.4% in the first quarter. United Bank now owns 3,658 shares of the software company’s stock valued at $889,000 after purchasing an additional 49 shares during the last quarter. Finally, Drystone LLC increased its stake in shares of Adobe by 0.5% during the second quarter. Drystone LLC now owns 10,420 shares of the software company’s stock worth $2,136,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADBE shares. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a report on Friday, September 11th. DA Davidson boosted their price target on Adobe from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Adobe in a report on Tuesday, September 8th. Evercore set a $250.00 price objective on Adobe in a research report on Friday, September 11th. Finally, Wells Fargo & Company downgraded Adobe from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $270.00 to $225.00 in a report on Monday, October 12th. Nine analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $283.90.

Insider Buying and Selling

In other Adobe news, CEO Shantanu Narayen sold 74,500 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the transaction, the chief executive officer owned 289,224 shares in the company, valued at $72,757,189.44. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $251.47 on Tuesday. The company’s 50 day moving average price is $253.89 and its two-hundred day moving average price is $250.69. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $362.71. The firm has a market cap of $97.87 billion, a PE ratio of 14.03, a PEG ratio of 0.87 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.41.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 10th. The software company reported $6.13 EPS for the quarter, topping the consensus estimate of $6.08 by $0.05. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.69 billion. Adobe had a net margin of 28.05% and a return on equity of 65.65%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $5.31 earnings per share. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Equities research analysts predict that Adobe Inc. will post 20.01 earnings per share for the current year.

Adobe Company Profile

Adobe Inc is a global software company that develops digital tools for creative professionals, businesses, marketers, and individual users. Its products help customers create, edit, publish, manage, and measure digital content across websites, mobile applications, documents, and other media.

The company’s Creative Cloud portfolio includes applications such as Photoshop, Illustrator, InDesign, Premiere Pro, and Acrobat. Adobe also offers Document Cloud, which provides tools for creating, editing, sharing, signing, and managing digital documents, and Experience Cloud, a suite of solutions for digital marketing, analytics, commerce, customer journeys, and content management.