Pallas Capital Advisors LLC Has $2.86 Million Stock Position in Adobe Inc. $ADBE

Pallas Capital Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 57.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,093 shares of the software company’s stock after selling 11,011 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Adobe were worth $2,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. Riverbend Wealth Management LLC lifted its position in shares of Adobe by 1.8% in the third quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company’s stock worth $588,000 after purchasing an additional 29 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in Adobe by 1.1% in the 2nd quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock valued at $997,000 after buying an additional 30 shares during the period. Intellus Advisors LLC lifted its position in Adobe by 1.6% in the 2nd quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after buying an additional 30 shares in the last quarter. Beacon Financial Advisory LLC boosted its stake in shares of Adobe by 5.5% during the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock valued at $204,000 after buying an additional 30 shares during the period. Finally, MCF Advisors LLC grew its holdings in shares of Adobe by 20.8% during the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock valued at $61,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the transaction, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADBE. The Goldman Sachs Group assumed coverage on Adobe in a report on Monday, January 12th. They set a “sell” rating and a $290.00 price objective for the company. TD Cowen cut their price target on Adobe from $420.00 to $400.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. HSBC set a $302.00 price target on Adobe in a report on Friday. Weiss Ratings downgraded Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Finally, Piper Sandler cut shares of Adobe from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $470.00 to $330.00 in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $397.16.

Adobe Stock Up 0.6%

Shares of Adobe stock opened at $263.97 on Tuesday. Adobe Inc. has a 12-month low of $251.10 and a 12-month high of $464.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $316.38 and a two-hundred day moving average price of $334.00. The stock has a market capitalization of $108.36 billion, a P/E ratio of 15.80, a PEG ratio of 1.04 and a beta of 1.51.

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

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.