Cary Street Partners Financial LLC Decreases Position in Adobe Inc. $ADBE

Cary Street Partners Financial LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.9% during the fourth quarter, HoldingsChannel reports. The firm owned 43,254 shares of the software company’s stock after selling 3,710 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Adobe were worth $15,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC raised its position in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Sivia Capital Partners LLC raised its position in Adobe by 25.5% during the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock valued at $926,000 after purchasing an additional 486 shares during the period. United Bank raised its holdings in shares of Adobe by 12.8% in the second quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after buying an additional 428 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Adobe by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after buying an additional 190 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Adobe by 190.6% in the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock worth $1,069,000 after buying an additional 1,813 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $248.02, for a total value of $331,354.72. Following the sale, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $244.76 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $98.93 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42. The stock’s fifty day simple moving average is $244.55 and its two-hundred day simple moving average is $286.47. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $421.48.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $0.19. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.08 EPS. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, analysts expect that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. Sanford C. Bernstein set a $447.00 price target on Adobe and gave the stock an “outperform” rating in a report on Friday, March 13th. BTIG Research began coverage on Adobe in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Morgan Stanley reduced their price target on Adobe from $425.00 to $365.00 and set an “equal weight” rating on the stock in a report on Friday, March 13th. JPMorgan Chase & Co. reduced their price target on Adobe from $520.00 to $420.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Finally, Mizuho reiterated a “neutral” rating and issued a $270.00 price target (down from $315.00) on shares of Adobe in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $338.15.

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.