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

King Luther Capital Management Corp lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 306,289 shares of the software company’s stock after selling 49,970 shares during the quarter. King Luther Capital Management Corp’s holdings in Adobe were worth $108,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management lifted its holdings in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after acquiring an additional 56 shares during the period. Horizon Financial Services LLC increased its position in Adobe by 4,000.0% during the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. Total Investment Management Inc. purchased a new position in Adobe during the second quarter worth approximately $35,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Adobe in the 3rd quarter valued at $35,000. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Adobe during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ADBE. Jefferies Financial Group lowered Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $500.00 to $400.00 in a research report on Monday, January 5th. Robert W. Baird set a $350.00 price objective on Adobe in a report on Wednesday, January 14th. Wells Fargo & Company decreased their target price on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. UBS Group dropped their target price on shares of Adobe from $375.00 to $340.00 and set a “neutral” rating for the company in a research report on Monday, January 26th. Finally, Stifel Nicolaus cut their price target on shares of Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $397.16.

Adobe Trading Up 1.0%

ADBE opened at $263.17 on Thursday. The firm’s 50 day moving average is $313.11 and its 200-day moving average is $332.89. Adobe Inc. has a 52-week low of $251.10 and a 52-week high of $463.61. 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 firm has a market capitalization of $108.03 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.02 and a beta of 1.51.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. During the same period last year, the business earned $4.81 EPS. The business’s revenue was up 10.5% on a year-over-year basis. 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.

Insider Activity

In related news, CFO Daniel Durn sold 1,646 shares of the 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 completion of the transaction, the chief financial officer owned 41,995 shares of the company’s stock, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.