Weatherly Asset Management L. P. Sells 1,685 Shares of Adobe Inc. $ADBE

Weatherly Asset Management L. P. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.7% in the third quarter, HoldingsChannel.com reports. The firm owned 23,381 shares of the software company’s stock after selling 1,685 shares during the quarter. Adobe comprises approximately 0.7% of Weatherly Asset Management L. P.’s holdings, making the stock its 28th largest holding. Weatherly Asset Management L. P.’s holdings in Adobe were worth $8,248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenup Street Wealth Management LLC purchased a new stake in shares of Adobe during the third quarter worth about $3,401,000. Highland Capital Management LLC increased its holdings in Adobe by 45.0% during the 3rd quarter. Highland Capital Management LLC now owns 13,279 shares of the software company’s stock valued at $4,684,000 after purchasing an additional 4,123 shares during the period. Regent Peak Wealth Advisors LLC bought a new position in Adobe during the 3rd quarter valued at approximately $450,000. Trust Co. of Toledo NA OH increased its stake in shares of Adobe by 1.9% during the third quarter. Trust Co. of Toledo NA OH now owns 3,652 shares of the software company’s stock valued at $1,288,000 after buying an additional 67 shares during the period. Finally, Avanza Fonder AB raised its holdings in shares of Adobe by 6.1% during the third quarter. Avanza Fonder AB now owns 30,248 shares of the software company’s stock valued at $10,670,000 after acquiring an additional 1,734 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ADBE has been the topic of several recent analyst reports. UBS Group set a $487.00 price target on shares of Adobe in a report on Sunday, December 14th. Evercore ISI cut their target price on shares of Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. DA Davidson reissued a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Thursday, December 11th. Wolfe Research lowered their price objective on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Finally, Cowen reiterated a “hold” rating on shares of Adobe in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Hold” and an average price target of $417.93.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $353.80 on Friday. The company has a 50 day simple moving average of $338.76 and a two-hundred day simple moving average of $353.73. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $465.70. The company has a market capitalization of $148.10 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.39 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the previous year, the firm posted $4.81 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.