Adobe Inc. $ADBE Stock Holdings Trimmed by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.8% during the 4th quarter, Holdings Channel reports. The fund owned 279,402 shares of the software company’s stock after selling 26,887 shares during the period. King Luther Capital Management Corp’s holdings in Adobe were worth $97,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of ADBE. Measured Wealth Private Client Group LLC acquired a new position in shares of Adobe during the 3rd quarter valued at $26,000. Western Pacific Wealth Management LP acquired a new position in shares of Adobe during the 4th quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Adobe during the 3rd quarter valued at $27,000. Caitlin John LLC acquired a new position in shares of Adobe during the 3rd quarter valued at $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of Adobe during the 4th quarter valued at $28,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADBE. Wells Fargo & Company lowered their price target on Adobe from $420.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. TD Cowen decreased their target price on Adobe from $400.00 to $325.00 and set a “hold” rating on the stock in a report on Tuesday, March 10th. DA Davidson set a $300.00 target price on Adobe in a report on Friday, March 13th. Barclays cut Adobe from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $335.00 to $275.00 in a report on Friday, March 13th. Finally, Morgan Stanley decreased their target price on Adobe from $425.00 to $365.00 and set an “equal weight” rating on the stock in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued 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 a consensus price target of $338.15.

Adobe Stock Performance

Shares of Adobe stock opened at $240.49 on Wednesday. The stock has a market cap of $97.21 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42. The business has a fifty day simple moving average of $244.37 and a 200-day simple moving average of $285.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. Adobe Inc. has a 12 month low of $224.13 and a 12 month high of $421.48.

Adobe (NASDAQ:ADBE) last issued 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. The business had revenue of $6.40 billion during 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%.Adobe’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.08 earnings per share. 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, sell-side analysts anticipate that Adobe Inc. will post 19.14 EPS for the current fiscal year.

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

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of the sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the completion of the sale, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 over the last quarter. Company insiders own 0.20% of the company’s stock.

About Adobe

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.