Legacy Wealth Asset Management LLC Buys 2,227 Shares of Adobe Inc. $ADBE

Legacy Wealth Asset Management LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 38.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,077 shares of the software company’s stock after buying an additional 2,227 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Adobe were worth $1,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Adobe during the 2nd quarter worth about $8,437,821,000. Primecap Management Co. CA bought a new stake in shares of Adobe in the 2nd quarter valued at approximately $1,071,668,000. Bank of New York Mellon Corp acquired a new position in Adobe in the second quarter worth approximately $954,468,000. Deutsche Bank AG acquired a new position in Adobe in the second quarter worth approximately $750,203,000. Finally, Legal & General Group Plc bought a new position in Adobe during the second quarter valued at approximately $653,307,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Shantanu Narayen sold 50,500 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $249.57, for a total value of $12,603,285.00. Following the sale, the chief executive officer directly owned 238,724 shares of the company’s stock, valued at approximately $59,578,348.68. This trade represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares in the company, valued at $1,010,797.92. The trade was a 9.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 125,416 shares of company stock worth $31,454,466. 0.20% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of Adobe stock opened at $241.05 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $258.36 and a 200-day simple moving average of $242.88. The stock has a market capitalization of $93.82 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.81 and a beta of 1.42. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $363.70.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ADBE. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and raised their price target for the company from $282.00 to $308.00 in a report on Thursday, July 2nd. Citizens Jmp reiterated a “market perform” rating on shares of Adobe in a report on Friday, September 11th. Stifel Nicolaus increased their target price on shares of Adobe from $200.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, September 9th. Finally, Morgan Stanley restated an “underweight” rating on shares of Adobe in a report on Friday, September 11th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $282.68.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe rebounded as investors viewed its depressed valuation and recent selloff as an opportunity, with the stock trading below key moving averages. The broader rotation away from expensive AI leaders toward beaten-down technology and services stocks provided additional support. What’s Going On With Adobe Stock Thursday?
• Positive Sentiment: Adobe’s strong operating profile remains a supporting factor: its latest reported quarter included $6.76 billion in revenue, 12.9% year-over-year growth and earnings above analysts’ expectations. Investors may be reassessing the company’s valuation after the recent decline. Adobe: Are Strong Fundamentals Enough to Overcome AI Fears?
• Positive Sentiment: Adobe signed a partnership making it the NHL’s official Creative, Marketing and AI Partner. The agreement could increase exposure for Adobe’s customer-experience products and Firefly generative-AI tools among the league’s global audience. Adobe Joins the NHL
• Neutral Sentiment: The U.S. Labor Department suspended Adobe from the PERM green-card program amid allegations of abuse involving foreign-worker sponsorship. The restriction creates regulatory and recruiting uncertainty, but investors appeared to view Adobe’s direct business impact as limited, particularly compared with Microsoft. U.S. Suspends Microsoft and Adobe From Green-Card Labor Program
• Negative Sentiment: Longer-term concerns remain over slowing organic growth, competition from AI-powered creative tools and whether generative AI could erode Adobe’s software franchise. Recent insider selling and the upcoming CEO transition add further reasons for caution. Adobe Shares Slide as Investors Digest Softer Growth Concerns

Adobe Profile

Adobe Inc (NASDAQ: ADBE) is a global software company that develops tools for creating, managing, delivering and analyzing digital content. Its products serve creative professionals, marketers, enterprises, students and individual consumers across a broad range of industries and geographies.

Adobe’s Creative Cloud portfolio includes applications such as Photoshop, Illustrator, Premiere Pro, InDesign and Adobe Express for graphic design, photography, video, illustration and digital content creation.