Adobe Inc. $ADBE Position Lowered by Summit Global Investments

Summit Global Investments lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 61.7% in the third quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cyndeo Wealth Partners LLC increased its stake in Adobe by 2.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 1,559 shares of the software company’s stock valued at $374,000 after acquiring an additional 43 shares during the last quarter. Meridian Management Co. raised its position in Adobe by 0.3% during 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 in the last quarter. Brown Shipley& Co Ltd raised its position in Adobe by 28.8% during 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 in the last quarter. United Bank lifted its stake in Adobe by 1.4% during the first quarter. United Bank now owns 3,658 shares of the software company’s stock worth $889,000 after purchasing an additional 49 shares during the last quarter. Finally, Drystone LLC lifted its stake in 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 last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 74,500 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the sale, the chief executive officer owned 289,224 shares of the company’s stock, valued at approximately $72,757,189.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Adobe Stock Up 0.5%

Shares of NASDAQ:ADBE opened at $251.47 on Tuesday. The company has a fifty day moving average of $253.89 and a 200-day moving average of $250.69. The company has a market capitalization of $97.87 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 0.77. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $362.71.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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 during 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%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $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, equities analysts predict that Adobe Inc. will post 20.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADBE. Stifel Nicolaus upped their price objective on Adobe from $200.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, September 9th. HSBC cut Adobe from a “buy” rating to a “hold” rating and decreased their target price for the company from $310.00 to $267.00 in a research report on Tuesday, October 13th. CLSA assumed coverage on Adobe in a research note on Monday, July 20th. They set an “outperform” rating and a $300.00 target price for the company. Bank of America boosted their target price on Adobe from $190.00 to $220.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 19th. Finally, TD Cowen reissued a “hold” rating and issued a $245.00 target price on shares of Adobe in a report on Wednesday, September 9th. Nine investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $283.90.

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.