Carnegie Investment Counsel Lowers Holdings in Adobe Inc. $ADBE

Carnegie Investment Counsel trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 66.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,664 shares of the software company’s stock after selling 5,352 shares during the period. Carnegie Investment Counsel’s holdings in Adobe were worth $648,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADBE. Willis Investment Counsel increased its holdings in shares of Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after purchasing an additional 23,671 shares during the last quarter. Nicholas Company Inc. boosted its stake in Adobe by 7.6% during the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after buying an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Adobe by 13.4% during the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after buying an additional 25,435 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after buying an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC grew its holdings in Adobe by 301.1% during the 4th quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after buying an additional 4,874 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $220.78 on Wednesday. The firm has a market capitalization of $87.76 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.78 and a beta of 1.43. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $376.16. The business has a 50 day simple moving average of $229.83 and a 200-day simple moving average of $258.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Equities analysts forecast that Adobe Inc. will post 19.81 EPS for the current year.

Adobe announced that its board has authorized a share buyback program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to purchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Ricks acquired 10,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 77,091 shares of company stock valued at $18,782,773 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Freedom Capital lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. William Blair cut shares of Adobe from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 26th. Piper Sandler decreased their price target on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $275.00.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is advancing its AI strategy, including a planned acquisition of Topaz Labs, which should deepen its AI-powered creative tools and strengthen its core product suite. Adobe (ADBE) Buys Topaz Labs As AI Revenue Runs At 3x Prior Year
• Positive Sentiment: Adobe’s AI-first recurring revenue is growing quickly, with management saying it is running at more than three times last year’s pace and now above $500 million, which supports the long-term growth narrative. Adobe (ADBE) Freemium AI Push Puts Valuation Back In Focus
• Positive Sentiment: Technical momentum has improved, with Adobe recently breaking above its 50-day moving average, which some traders view as a short-term bullish signal. Adobe Systems (ADBE) Recently Broke Out Above the 50-Day Moving Average
• Neutral Sentiment: Several articles highlighted Adobe’s AI and brand-discovery efforts, including commentary from its CMO on how AI is changing marketing and search behavior, but these were more strategic than immediately market-moving. Adobe CMO Lara Balazs Says AI Is Rewriting Brand Discovery: ‘There’s AI. Do That.’
• Neutral Sentiment: Adobe continues to draw investor attention after strong quarterly results and raised guidance, but those positives are being balanced against valuation concerns and the risk of softer enterprise spending. Adobe Inc. (ADBE) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: IBM’s warning about weaker enterprise software spending is weighing on Adobe and the broader software group, raising fears that customers may delay or cut software purchases. IBM Warning Hits Software Stocks
• Negative Sentiment: Adobe’s stock has been in a longer-term downtrend despite recent rebounds, so some investors may still be cautious about the valuation and recovery path. Is Adobe Stock Really Broken, or Just Violently Marked Down?

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.