13,291 Adobe Inc. $ADBE Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,307 shares of the software company’s stock after selling 13,291 shares during the period. King Luther Capital Management Corp’s holdings in Adobe were worth $26,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Adobe during the second quarter valued at approximately $8,437,821,000. Johnson Financial Group Inc. purchased a new position in Adobe during the second quarter worth $2,289,000. Biondo Investment Advisors LLC bought a new position in Adobe during the second quarter valued at $2,647,000. Summit Global Investments bought a new position in Adobe during the second quarter valued at $1,401,000. Finally, First Citizens Bank & Trust Co. increased its position in Adobe by 217.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,823 shares of the software company’s stock valued at $1,877,000 after acquiring an additional 5,356 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Shantanu Narayen sold 50,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 238,724 shares of the company’s stock, valued at $59,578,348.68. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Adobe Trading Up 0.4%

Shares of ADBE opened at $237.60 on Thursday. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $362.71. The company has a 50-day moving average of $248.07 and a 200 day moving average of $248.70. The firm has a market capitalization of $92.47 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 10th. The software company reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $6.08 by $0.05. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.69 billion. Adobe had a net margin of 28.05% and a return on equity of 65.65%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm 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, research analysts expect that Adobe Inc. will post 20.01 EPS for the current year.

Key Adobe News

These are some of the ADBE news items that stood out recently:

• Positive Sentiment: At Adobe MAX, the company announced AI assistants and agentic features across Creative Cloud and Firefly, including tools for image and video workflows. These features could strengthen Adobe’s products and help it capture demand for AI-enabled creative software, though commercial impact will depend on customer adoption. Article: Adobe adds AI assistants and generative tools across Creative Cloud
• Positive Sentiment: RBC reaffirmed its “outperform” rating and set a $315 price target, indicating analyst confidence in potential upside from the referenced $237.60 price. Article: Royal Bank of Canada recommendations
• Negative Sentiment: Adobe was included among stocks facing analyst price-target reductions. Coverage also notes the stock is down about 31% this year, amid broader technology-market weakness—evidence that sentiment and valuation concerns remain a drag despite the new AI announcements. Article: Adobe is down about 31% this year

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ADBE shares. DA Davidson increased their price objective on shares of Adobe from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Jefferies Financial Group cut their target price on Adobe from $285.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. UBS Group increased their price target on Adobe from $225.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. Barclays raised their price target on Adobe from $250.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $315.00 price objective on shares of Adobe in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and an average price target of $282.52.

Adobe Company Profile

Adobe Inc. develops software and services for creating, managing and delivering digital content. Its products serve creative professionals, businesses, marketers and individual users around the world. Adobe’s Digital Media offerings include Creative Cloud applications such as Photoshop, Illustrator, Premiere Pro and InDesign, along with Acrobat tools for creating, editing and signing PDF documents. The company also provides generative AI capabilities through Adobe Firefly and related features in its creative products.